Conduct a DuPont analysis for the packaging company. If you use any balance sheet entries, follow our text and use the same year as the income statement data. What is the greatest contributor to return on equity (ROE) in Year 2022? 

Inputs Cost of goods sold Cash Depreciation Interest expense Selling & Administrative Accounts payable Net fixed assets Sales Accounts receivable Notes payable Long-term debt Inventory New equity* Tax rate Dividend percentage *From sales of shares to the public. # of Shares Outstanding End-of-Day Market Price 2021 55,810 32,416 62,000 13,783 44,121 47,250 249,874 440,122 25,939 17,538 141,040 48,272 0 28% 36% $ 2022 215,481 54,790 72,545 16,899 57,586 14,587 295,450 536,483 32,541 28,474 171,000 64,325 2,205 18,250 7.21 1. Income Statement Sales Cost of goods sold Selling & Administrative EBITDA Depreciation EBIT Interest EBT Taxes Net income Dividends Addition to retained earnings 2021 440,122 55,810 44,121 2022 536,483 215,481 57,586 340,191 263,416 62,000 72,545 278,191 190,871 13,783 16,899 264,408 173,972 74,034 48,712 190,374 125,260 68,535 121,839 45,094 80,166 2. Balance Sheet Cash A/R Inventory Current Assets Net Fixed Assets Total Assets A/P N/P Current Liabilities LTD Owners Equity Total Liabilities 2021 32,416 25,939 48,272 106,627 249,874 356,501 47,250 17,538 64,788 141,040 150,673 356,501 2022 54,790 32,541 64,325 151,656 295,450 447,106 14,587 28,474 43,061 171,000 233,044 447,105