a decomposition of roe for integra sa is as follows which of the following choices b 1557089

A decomposition of ROE for Integra SA is as follows:

Which of the following choices best describes reasonable conclusions an analyst might make based on this ROE decomposition?

A. Profitability and the liquidity position both improved in FY12.

B. Th e higher average tax rate in FY12 off set the improvement in profitability, leaving ROE unchanged.

C. Th e higher average tax rate in FY12 off set the improvement in efficiency, leaving ROE unchanged.