ROA FOR 2023? The following information pertains to Orion Corp. for the year endedDecember 31, 2023:• Net income: $180,000Total assets at beginning of year: $2,400,000••Total assets at end of year: $3,000,000What was Orion's Return on Assets (ROA) for 2023?a. 6%b. 7.5%c. 8%d. 10%

Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a profitability ratio that…

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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 98.3C

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Subject. General accounting
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SUBJECT: GENERAL ACCOUNTING
What was Lumina Corp.'s rate of return on assets for 2023 on these general accounting question?
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From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%
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The following information pertains to Orion Corp. for the year ended December 31, 2023: • Net income: $180,000 Total assets at beginning of year: $2,400,000 • • Total assets at end of year: $3,000,000 What was Orion's Return on Assets (ROA) for 2023? a. 6% b. 7.5% c. 8% d. 10%