Question: Please explain the solution to this general accounting problem with accurate principles. Luxury Brands Inc. reported the following financial information (in millions): Current Year: Net

Please explain the solution to this general accounting problem with accurate principles.

Luxury Brands Inc. reported the following financial information (in millions): Current Year: Net Income: $215.6 e Average Total Assets: 51,8245 e Net Sales: $1.756.3 Prior Year: e Net Income: $187.2 Average Total Assets: $1,673.8 e Net Sales: $1,592.7 Calculate the Return on Assets (ROA) for both years

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