Question: For a bank, which has the data below, prove that the equation [ROE=ROA*EM] is valid and correct. Data: Net Profit: $ 18 million Total Assets:

For a bank, which has the data below, prove that the equation [ROE=ROA*EM] is valid and correct. Data: Net Profit: $ 18 million Total Assets: $ 1,440 billion Total Equity: $ 144 million Note: ROE=Return on Equity ROA=Return on assets EM=Equity Multiplier

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