Use the following data to analyze ROE for 2009 and 2010 using the extended DuPont formula (5 component model).

in millions	2010	2009	2008
Revenue	$100,000	$96,000
Earnings before interest and taxes	10,000	10,560
Earnings before tax	8,000	8,500
Net income	5,000	4,600
Total assets	315,000	285,000	238,000
Stockholders equity	25,000	26,000	28,000

14. The change in ROE from 2009 to 2010 is LEAST likely attributable to the change in the firm's

	Net Profit Margin.
	Total Asset Turnover

Financial Leverage

15. The change in the Profit Margin from 2009 to 2010 can most likely be traced to a change in the firm's

	Tax Burden.
	Interest Burden.

EBIT Margin.