The following table contains some key ratios for Haygarden Ltd and its peer group of companies:

	Haygarden Ltd	Peer group
Gross profit margin	30%	60%
Operating profit margin	17%	42%
Net profit margin	12%	19%
Equity multiplier	1.8	1.75
Return on assets	34%	67.2%

In which aspects of operating performance is Haygarden Ltd inferior to (i.e. worse than) the peer group?

a.

Asset management efficiency only

b.

Control of cost of goods sold only

c.

Control of operating expenses only

d.

Asset management efficiency and control of (1) cost of goods sold and (2) operating expenses

Clear my choice