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All of the following equations represent return on equity EXCEPT: a. (net profit margin) (total asset turnover) (assets/equity) b. [(operating profit margin) (total asset turnover)

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All of the following equations represent return on equity EXCEPT: a. (net profit margin) (total asset turnover) (assets/equity) b. [(operating profit margin) (total asset turnover) - interest expense rate)] (financial leverage multiplier) (tax retention rate) c. net income/equity d. (ROA)(1+D/E) e. (net profit margin) (1+D/E)

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