A firm's ROE has decreased from 2020 to 2021. Using the information below, identify the ROE component that is responsible for the decrease.

	2021		2020
Cash	$ 23,500		$ 33,000
Inventory	$ 25,000		$ 20,000
Prepaid Expenses	$ 15,000		$ 20,000
Property, Plant, and Equipment	$ 153,000		$ 125,000
Goodwill	$ 40,000		$ 40,000
Total Assets	$ 256,500		$ 238,000
Accounts Payable	$ 2,500		$ 5,000
Accruals	$ 25,000		$ 23,500
Current Portion of Long Term Bonds Payable	$ 20,000		$ 22,000
Long Term Bonds Payable	$ 73,000		$ 75,000
Common Stock, Par	$ 16,000		$ 16,000
Common Stock, Paid in Capital	$ 75,000		$ 65,000
Retained Earnings	$ 45,000		$ 31,500
Total Liabilities and Equity	$ 256,500		$ 238,000
Sales	$ 91,607		$ 85,000
COGS	$ 57,135		$ 50,000
Gross Profit	$ 34,472		$ 35,000
Depreciation	$ 14,000		$ 15,000
EBIT	$ 20,472		$ 20,000
Interest	$ 7,000		$ 7,500
EBT	$ 13,472		$ 12,500
Taxes	$ 2,829		$ 2,625
NI	$ 10,643		$ 9,875

Question 8 options:

A)	Net Profit Margin

B)	Total Asset Turnover

C)	Equity Multiplier

D)	Return on Assets

E)	None of the Above