Question 2 Table 2.1 and Table 2.2 below, provide the past financial statements of Harvey Norman (HVN) and JB HiFi (JBH) - two of the largest Australian retail companies that sell various consumer products. Equity analyst, Noa Young is trying to compare Return on Equity (ROE) of these two firms based on the data below. Help Noa to - i. Calculate ROE of HVN and JBH at the end of 2020. ii. Carry out DuPont Analysis to decompose the ROE of HVN and JBH iii. Explain why one company has higher ROE than the other based on the DuPont Analysis"? + Table 2.12 e Income Statement ($mn) HVN Item 2019 2020 2019 2020 Revenue 3414.923 3539.386 7097.7 7922.54 Operating Expenses 2721.92 2599.925 6669.4 7364.4 EBITDA 693.003e 939.461 428.34 558.12 Depreciation and Amortisation 85.259 223.5912 54.7 54 607.744 715.872 373.6 504.12 Net Interest Expenses 23.52 53.406 14.3 36.4 584.224 662.464- 359.3 467.72 Pre-tax Profit Tax Expense- 165.5572 175.265 109.5 151.54 418.667 487.1991 249.8 Net Profit after Tax e 316.2 Table 2.2 Balance Sheet HVN 220.3 30.84 2019 2020 215.048 313.195 741.862 511.579 29.9012 30.723 395.965 391.984 28.888 30.237 44.676 20.613 1456.34 1298.331 696.2074 1176.671 64.631 63.003 0 0 0 3.227 0 0 7474 22.2- 38.4 Item Cashe Receivables Prepaid Expenses Inventories Investments Othere Total Current Assets Properties, Plants & Equipment Intangibles(ExGW) Goodwille Future Tax Benefit Othere Total Non-Current Asset Total Assets Account Payable Short-Term Debte Provisions Other Total Current Liabilities Long-Term Debt Provisions Other Total Non-Current Liabilities Total Liabilities Share Capitale Reserves Retained Earnings Outside Equity Total Equity Total Liabilities & Equities 2019 2020 119.2 251.5 236 30 886.72 739.3 0 4.6 3.9 1276.5 1245.8 191.5 814.5 290.3 284.4e 747 2.72 40.8 1272.32 1906.5 2548.8 656.9 0 99 171.2 927.12 1345.9 439.12 577.60 15.2 41.5 123.3 577.6 700.7 1504.72 2046.6 434.8 53.72 555.6 635.74 02 0 1044.12 1105.7 2548.8 3152.3 3342.404 4530.271 4798.744 5828.602 283.682 351.772 494.53 233.121 45.077 104.41 75.819 96.141 899.1084 785.444 346.942 1237.807 343.571 327.163 11.33 0.863 701.8434 1565.833 1600.951 2351.277 552.25 717.925 217.724 216.837 2397.436 2511.58 30.383 30.983 3197.7934 3477.325 4798.744 5828.602 3152.3 854.12 164 131.2 196.64 81.6 403.2- 66.8 144