Question introductive<p>An analyst compiles the data in Exhibit 1 for a company:</p> <table style="width:90%;text-align:center"> <caption>Exhibit 1: Net Profit Margin</caption> <tr><th class="left"></th><th>FY13</th><th>FY14</th><th>FY15</th></tr> <tr><td class="left"><b>ROE</b></td><td>19.8%</td><td>20.0%</td><td>22.0%</td></tr> <tr><td class="left"><b>Return on total assets</b></td><td>8.1%</td><td>8.0%</td><td>7.9%</td></tr> <tr><td class="left"><b>Total asset turnover</b></td><td>2.0%</td><td>2.0%</td><td>2.1%</td></tr> </table>

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