You are examining the return on equity (ROE) for the two firms below by applying the DuPont identity. Which of the following statements is true? Select the best answer. I. The ROE of firm E is higher than the ROE of firm Z because firm E has a higher profit margin than firm Z. II. The ROE of firm E is higher than the ROE of firm Z because firm E has a higher asset turnover than firm Z. III. The ROE of firm E is higher than the ROE of firm Z because firm E has a higher equity multiplier than firm Z. IV. The ROE of firm E is lower than the ROE of firm Z because firm E has a lower profit margin than firm Z. V. The ROE of firm E is lower than the ROE of firm Z because firm E has a lower asset turnover than firm Z. VI. The ROE of firm E is lower than the ROE of firm Z because firm E has a lower equity multiplier than firm Z