NO.PZ2023081403000145
问题如下：
Q. An analyst compiles the data in Exhibit 1 for a company:Exhibit 1:
Net Profit Margin
Based only on the information above, the most appropriate conclusion is that, over the period FY13 to FY15, the company’s:
选项：
A.net profit margin and financial leverage have decreased. B.net profit margin and financial leverage have increased. C.net profit margin has decreased but its financial leverage has increased.解释：
C is correct. The company’s net profit margin has decreased and its financial leverage has increased. ROA = Net profit margin × Total asset turnover. ROA decreased over the period despite the increase in total asset turnover; therefore, the net profit margin must have decreased.
ROE = Return on assets × Financial leverage. ROE increased over the period despite the drop in ROA; therefore, financial leverage must have increased.
解析中关于ROA和ROE的公式与讲义中写的不一样，是什么原因？
以及麻烦详细讲解一下解题思路。
