Using Alibaba Groups consolidated financial statements (link below) in its IPO Prospectus (pp. F-3 F-6): a. Calculate Alibabas Return on Equity for the year ended March 31, 2014 and decompose this performance metric using: i. The traditional decomposition ; and ii. The alternative decomposition. b. Discuss the performance decompositions. Where does Alibabas profitability come from? Hint: Treat the mezzanine equity as part of group equity.

https://www.sec.gov/Archives/edgar/data/1577552/000119312514347620/d709111d424b4.htm