Question: ROE and RNOA Comparisons and changes in the ratios over the past three years: Discuss any significant changes in profitability and how the operating and

ROE and RNOA Comparisons and changes in the ratios over the past three years:

2021 ROE 22.5% RNOA 21.71% 0.81% Nonoperating Return 2020 26.4% 24.89% 1.47%

Discuss any significant changes in profitability and how the operating and non-operating components differ.

2021 ROE 22.5% RNOA 21.71% 0.81% Nonoperating Return 2020 26.4% 24.89% 1.47% 2019 27.7% 24.04% 3.64%

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