Below is Required Homework There is a single widely accepted ROIC calculation. Our definition of ROIC treats Noncurrent Liabilities as an investment in operations. When companies have significant interest-bearing Noncurrent Liabilities, these are viewed as a source of invested Capital. Including Cash and Cash Equivalents stockpiles in Current Assets distorts the value of current assets required to operate the business. The coreoperating business has a significantly different return profilethan large Cash stockpiles and Intangible Assets. ROA rises with high levels of Intangible Assets. Long-term Market able Securities are not as liquid as Short-term Market able Securities and needs to besegregated. ROE is increased with Debt levels. ROE measures NOPAT/Equity. Below is Required Homework There is a single widely accepted ROIC calculation. Our definition of ROIC treats Noncurrent Liabilities as an investment in operations. When companies have significant interest-bearing Noncurrent Liabilities, these are viewed as a source of invested Capital. Including Cash and Cash Equivalents stockpiles in Current Assets distorts the value of current assets required to operate the business. The coreoperating business has a significantly different return profilethan large Cash stockpiles and Intangible Assets. ROA rises with high levels of Intangible Assets. Long-term Market able Securities are not as liquid as Short-term Market able Securities and needs to besegregated. ROE is increased with Debt levels. ROE measures NOPAT/Equity