Company	Hyundai Motor Company (₩000)	Kia Corporation (₩000)	Nissan Motor Co. (¥000)
Ordinary Shares	2,000,000	1,500,000	1,200,000
9% Debentures	500,000	600,000	400,000
Total Capital	2,500,000	2,100,000	1,600,000

The return on capital employed was 18% for each firm in 2019, and in 2020 it was 8%. Corporation tax in both years was assumed to be 48%, and debenture interest is an allowable expense against corporation tax.

(a) Calculate the percentage return on the shareholders' capital for each company for 2019 and 2020. Assume that all profits are distributed. (b) Discuss the impact of gearing on the financial stability of these companies.