XY Corporation ($ in millions) BALANCE SHEETS 2020 2019 ASSETS Cash & marketable securities $40,000 $50,000 Accounts receivable 300,000 500,000 Inventories 500,000 400,000 Net fixed assets 400000 300000 LIABILITIES & EQUITY Accounts payable 170,000 130,000 Bank loan 90,000 90,000 Accruals 70000 80000 Long-term debt 100,000 300,000 Other liabilities 0 0 Common stock 350000 350000 Retained earnings $460,000 $300,000 INCOME STATEMENTS 2020 2019 Sales 1,400,000 1,300,000 Cost of goods sold 800,000 780,000 Selling, general & admin, $150,000 $150,000 Marketing 150000 130000 Depreciation 53000 40000 Interest 57000 45000 Income taxes 116000 62000 Which of the following does not explain how financial performance (i.e. ROE) differed between 2020 and 2019? 2020's ROE rose because of a rising net profit margin and a greater use of debt. 2020's ROE rose because of a smaller use of debt and a lower average collection period. O 2020's ROE rose because of a higher asset turnover and a greater use of debt. 2020's ROE rose because of a rising net profit margin and a higher asset turnover