Which of the following statements is correct?

If the profit margin decreases, this will result in an increase in return on net operating all other things being equal

If return on equity increases, the return on net operating assets must have also increased

The efficient use of assets to generate business has no effect on return on equity, all other things being equal

The more efficiently a company utilizes its operating assets to generate business the greater its return on net operating assets, all other things being equal