Give true answer this financial accounting question The following data pertain to Lumina Corp. for the year ended December 31,2023:ItemNet salesNet incomeTotal assets, January 1, 2023Amount$750,000$200,000$2,500,000Total assets, December 31, 2023$3,500,000What was Lumina Corp.'s rate of return on assets (ROA) for 2023?a. 5.71%b. 6.67%c.20%d. 26.67%

Step 1: Define Rate of Return on Assets (ROA)Rate of Return on Assets (ROA) is a financial metric…

Answered: The following data pertain to Lumina…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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What was Lumina Corp.'s rate of return on assets for 2023 on these general accounting question?
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Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are as follows. All balance sheet data are as of the end of the fiscal year (in millions). Net sales Cost of goods sold Net income Accounts receivable Inventory Total assets Total common stockholders' equity 2022 $5,050.3 3,700.7 65.1 65.0 1,250.1 2,950.1 940.6 2021 $5,800.9 3,200.1 190.9 106.6 1,350.1 3,250.1 1,100.5
view Policies Current Attempt in Progress Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 467,400 $ 410,000 Inventory $ 785,400 % $ 660,000 % Total assets $3,197,900 % $2,830,000 % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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