Slaninas Awesome Co. just released their financial results. This company sells propane and propane accessories. You are an analyst and you want to see how well they performed for their investors. You calculate some ratios and decide to compare them to previous years. Calculate ROE for each year (3 points) and describe what is going on with this company based on these ratios. (3 points)

Tax Burden = Net Income/EBT

Interest Burden = EBT/EBIT

EBIT Margin = EBIT/Revenues

Asset Turnover = Revenues/Average Total Assets

Leverage = Average Total Assets/Average Shareholder Equity

	2014	2013	2012	2011
Tax Burden	68.30%	54.70%	65.40%	63.20%
Interest Burden	96.50%	92.70%	90.20%	88.50%
EBIT Margin	12%	12.70%	14.30%	16.20%
Asset Turnover	1.2	1.4	1.2	1.3
Leverage	1.9	2.1	2.2	2.4
ROE = ??