c) We have the following information for two competitors operating in the same industry. Return on equity (ROE) Net income Assets Sales Net interest expense Tax rate Company A 20% JPY 25 billion JPY 110 billion JPY 250 billion JPY 10 billion 23% Company B 8% JPY 16 billion JPY 80 billion JPY 180 billion JPY 8 billion 27% Use the traditional decomposed ROE approach (also known as the multiplicative ROE decomposition or DuPont ROE decomposition) to identify possible reasons for the difference in the two companies' ROE. For each component, explain possible reasons for the difference in some detail. (9 marks)