Financial Ratios - Bank of America Corporation

Bank of America Corporation has provided the following financial data for the fiscal year ended December 31, 2023:

• Total Assets: $3,000,000 million
• Total Liabilities: $2,000,000 million
• Net Income: $100,000 million
• Total Revenue: $500,000 million
• Total Expenses: $400,000 million
• Average Shareholders' Equity: $1,000,000 million

Calculate the following financial ratios for Bank of America Corporation:

a) Return on Assets (ROA) b) Return on Equity (ROE) c) Debt-to-Equity Ratio d) Gross Profit Margin e) Net Profit Margin

Interpret each ratio and discuss the financial performance of Bank of America Corporation based on these ratios.