胡老师

? If equity income from associates is a significant source of earnings, we should isolate these effects by removing the equity income from our DuPont analysis to eliminate any bias. ? Eliminating the equity income from the investor's earnings permits analysis of the investor's performance resulting exclusively from its own asset base. Assuming the investee is profitable, this adjustment will decrease both the investor firm's earnings and net profit margin. ? without information about how the investment is financed (e.g., debt, stock, cash, or a combination), it would be arbitrary to adjust assets and equity for purposes of calculating financial leverage. Unless the question specifically provides this information, don't adjust the leverage 在此题中，要将Equity投资的因素剔除掉，则总的资产会减少。