Question: (see appendix for calculations) 2023 2022 Industry average Return on equity 0.17% 23.00% 17.86% Return on assets 0.04% 6.46% 10.39% Gross profit margin 8.79% 9.14%

(see appendix for calculations) 2023 2022 Industry average Return on equity 0.17% 23.00% 17.86% Return on assets 0.04% 6.46% 10.39% Gross profit margin 8.79% 9.14% 23.15% Net profit margin 0.01% 1 .95% 23.15% Expense ratio 8.65% 9.00% n/a Cash flow to sales 2.54% 4.18% n/a Dividend payout ratio 13.50% 0.05% 68.12% Price earnings ratio 13.65 times 0.10 times TBA times What happened to the Profitability Ratios overall? *Why did the change occur *What specifically happened at VEA *Where there is minimal change could elaborate on why VEA remains stable

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