Below are several financial statement items for fiscal year 2021 for two food retail companies, Albertsons, one of the largest food and drug retailers in the US, and Kroger Co. one of the world's largest retailers measured by revenue. Use the financial information to answer the questions a), b) and c) below.

	Albertsons	Kroger
Net income	$1,620	$1,655
Sales	$71,887	$137,888
Average assets	$27,361	$48,874
Average stockholders' equity	$2,173	$9,490

a) Calculate each companys return on assets (ROA) and return on equity (ROE). Comment on any differences you observe.

b) Disaggregate the ROA for each company into profit margin (PM) and asset turnover (AT). Explain why one of the companies has a higher ROA than the other - is it because of PM or AT or both? Explain the business reasons why this could be.

c) Disaggregate the ROE for each company using the full, traditional Dupont analysis, including ROA as disaggregated in b). Comment on any differences you observe and explain the business reasons why this could be.