provide the past financial statements of Harvey Norman (HVN) and JB HiFi (JBH) - two of the largest Australian retail companies that sell various consumer products. Equity analyst, Noa Young is trying to compare Return on Equity (ROE) of these two firms based on the data below. Help Noa to -

2. Calculate ROE of HVN and JBH at the end of 2020.
4. Carry out "DuPont Analysis" to decompose the ROE of HVN and JBH
6. Explain why one company has higher ROE than the other based on the "DuPont Analysis"?

Table 2.1
Income Statement ($mn)
	HVN	JBH
Item	2019	2020	2019	2020
Revenue	3414.923	3539.386	7097.7	7922.5
Operating Expenses	2721.92	2599.925	6669.4	7364.4
EBITDA	693.003	939.461	428.3	558.1
Depreciation and Amortisation	85.259	223.591	54.7	54
EBIT	607.744	715.87	373.6	504.1
Net Interest Expense	23.52	53.406	14.3	36.4
Pre-tax Profit	584.224	662.464	359.3	467.7
Tax Expense	165.557	175.265	109.5	151.5
Net Profit after Tax	418.667	487.199	249.8	316.2

Table 2.2
Balance Sheet
	HVN	JBH
Item	2019	2020	2019	2020
Cash	215.048	313.195	119.2	251.5
Receivables	741.862	511.579	236	220.3
Prepaid Expenses	29.901	30.723	30	30.8
Inventories	395.965	391.984	886.7	739.3
Investments	28.888	30.237	0	0
Other	44.676	20.613	4.6	3.9
Total Current Assets	1456.34	1298.331	1276.5	1245.8
Properties, Plants & Equipment	696.207	1176.671	191.5	814.5
Intangibles(ExGW)	64.631	63.003	290.3	284.4
Goodwill	0	0	747	747
Future Tax Benefit	0	3.227	2.7	22.2
Other	0	0	40.8	38.4
Total Non-Current Asset	3342.404	4530.271	1272.3	1906.5
Total Assets	4798.744	5828.602	2548.8	3152.3
Account Payable	283.682	351.772	656.9	854.1
Short-Term Debt	494.53	233.121	0	164
Provisions	45.077	104.41	99	131.2
Other	75.819	96.141	171.2	196.6
Total Current Liabilities	899.108	785.444	927.1	1345.9
Long-Term Debt	346.942	1237.807	439.1	577.6
Provisions	343.571	327.163	15.2	41.5
Other	11.33	0.863	123.3	81.6
Total Non-Current Liabilities	701.843	1565.833	577.6	700.7
Total Liabilities	1600.951	2351.277	1504.7	2046.6
Share Capital	552.25	717.925	434.8	403.2
Reserves	217.724	216.837	53.7	66.8
Retained Earnings	2397.436	2511.58	555.6	635.7
Outside Equity	30.383	30.983	0	0
Total Equity	3197.793	3477.325	1044.1	1105.7
Total Liabilities & Equities	4798.744	5828.602	2548.8	3152.3