As of the end of 2020, China Minsheng Bank holds loans that are worth 5.9 trillion RMB, cash reserves that are worth 652 billion RMB, and other assets with a total worth of 186 billion RMB. To finance the asset holding, the bank maintains deposits worth a total of 4.9 trillion and long-term debts worth 1.1 trillion.

a) What is Minsheng Banks total equity (in billion RMB)?

b) Sketch Minsheng Banks balance sheet in 2020 (in billion RMB). You can fill in a table in the following format:

Total:	Total:

c) What is the debt-to-equity ratio of Minsheng Bank?

d) What would Minsheng Banks net profit after taxes need to be (in billion RMB) to generate a return on asset (ROA) of 10%?

e) What would Minsheng Banks return on equity (ROE) be if its ROA was 10% as in d)?

f) How are ROA, ROE, and the debt-to-equity ratio related? Please write down the definitions of ROA and ROE and derive an identity that links ROA, ROE and debt-to-equity ratio.