Hello! I am doing some ratio (ratio on equity to be exact) for an MBA accounting class, and it seems unclear when we need to do the last 2 years if the date (loss, profit etc.) from the actual year needs to be averaged out as well. I couldn't find any different formula from 2 last year (ROA per example). I just seem to find the formula for the regular 1 years in my accounting book and couldn't find the right formula. is ROA online an annual ratios or we can average it through the years?

thank you