可以问下2005年Asset Turnover的详细运算过程吗？算的和答案不一致

NO.PZ2023032701000028 问题如下 analyst following Chevron Corp. (NYSE Euronext: CVX) wants to estimate the sustainable growth rate for the company using the PRmol. For this purpose, the analyst hcompilethe ta in the following table. Assets anequity values are for the enof the year; the analyst uses averages of beginning anenng balansheet values in computing ratios baseon totassets anshareholrs’ equity. For example average totassets for 2007 woulcompute(148,786 + 132,628)/2 = $140,707. Note: All numbers except for EPS anS are in $ millions.Using the overall mevalue of the average component values calculatein Part the sustainable growth rate for Chevron is: A.19.2% B.18.3% C.20.8% The four components of PRare computefor 2007 follows:P (Profit margin) = NI/Sales = 18,688/214,091 = 0.0873R (Retention) = b = (EPS – S)/EPS = (8.77 – 2.26)/8.77= 0.7423A (Asset turnover) = Sales/Average totassets= 214,091/0.5(148,786) + 132,628) = 1.5215T (Leverage) = Average totassets/Average shareholrs’ equity= (148,786 + 132,628)/(77,088 + 68,935) = 1.9272The components are similarly computefor the other years ansummarizein the following table. Their average values are also incluUsing the average values for eacomponent,g = PR= (0.0812)(0.7390)(1.6250)(1.9736) = 0.1924 or 19.2 percentThe sustainable growth rate for Chevron baseon the PRexpression is 19.2 percent. 这个PART的知识点在哪里

NO.PZ2023032701000028 问题如下 analyst following Chevron Corp. (NYSE Euronext: CVX) wants to estimate the sustainable growth rate for the company using the PRmol. For this purpose, the analyst hcompilethe ta in the following table. Assets anequity values are for the enof the year; the analyst uses averages of beginning anenng balansheet values in computing ratios baseon totassets anshareholrs’ equity. For example average totassets for 2007 woulcompute(148,786 + 132,628)/2 = $140,707. Note: All numbers except for EPS anS are in $ millions.Using the overall mevalue of the average component values calculatein Part the sustainable growth rate for Chevron is: A.19.2% B.18.3% C.20.8% The four components of PRare computefor 2007 follows:P (Profit margin) = NI/Sales = 18,688/214,091 = 0.0873R (Retention) = b = (EPS – S)/EPS = (8.77 – 2.26)/8.77= 0.7423A (Asset turnover) = Sales/Average totassets= 214,091/0.5(148,786) + 132,628) = 1.5215T (Leverage) = Average totassets/Average shareholrs’ equity= (148,786 + 132,628)/(77,088 + 68,935) = 1.9272The components are similarly computefor the other years ansummarizein the following table. Their average values are also incluUsing the average values for eacomponent,g = PR= (0.0812)(0.7390)(1.6250)(1.9736) = 0.1924 or 19.2 percentThe sustainable growth rate for Chevron baseon the PRexpression is 19.2 percent. 这道题我做的时候也是三年取平均值做的，但是我直接用NI和Equity算出来了ROE，因为感觉PART这样中间都可以消掉，所以相当于只用了NI和Equity还有g，然后三年取平均分别算的，得出19%，感觉答案这样是不是有点复杂了呀

NO.PZ2023032701000028 问题如下 analyst following Chevron Corp. (NYSE Euronext: CVX) wants to estimate the sustainable growth rate for the company using the PRmol. For this purpose, the analyst hcompilethe ta in the following table. Assets anequity values are for the enof the year; the analyst uses averages of beginning anenng balansheet values in computing ratios baseon totassets anshareholrs’ equity. For example average totassets for 2007 woulcompute(148,786 + 132,628)/2 = $140,707. Note: All numbers except for EPS anS are in $ millions.Using the overall mevalue of the average component values calculatein Part the sustainable growth rate for Chevron is: A.19.2% B.18.3% C.20.8% The four components of PRare computefor 2007 follows:P (Profit margin) = NI/Sales = 18,688/214,091 = 0.0873R (Retention) = b = (EPS – S)/EPS = (8.77 – 2.26)/8.77= 0.7423A (Asset turnover) = Sales/Average totassets= 214,091/0.5(148,786) + 132,628) = 1.5215T (Leverage) = Average totassets/Average shareholrs’ equity= (148,786 + 132,628)/(77,088 + 68,935) = 1.9272The components are similarly computefor the other years ansummarizein the following table. Their average values are also incluUsing the average values for eacomponent,g = PR= (0.0812)(0.7390)(1.6250)(1.9736) = 0.1924 or 19.2 percentThe sustainable growth rate for Chevron baseon the PRexpression is 19.2 percent. No.PZ2023032701000023 中，g的计算是通过 (EPS2015/EPS2011)^0.25计算的，而这个题 （8.77/6.28)^0.333 = 11.77%与答案相去甚远。我的问题是方法没错的话，得出的结果至少相近啊。为什么这个题这么算就不对了？

NO.PZ2023032701000028 问题如下 analyst following Chevron Corp. (NYSE Euronext: CVX) wants to estimate the sustainable growth rate for the company using the PRmol. For this purpose, the analyst hcompilethe ta in the following table. Assets anequity values are for the enof the year; the analyst uses averages of beginning anenng balansheet values in computing ratios baseon totassets anshareholrs’ equity. For example average totassets for 2007 woulcompute(148,786 + 132,628)/2 = $140,707. Note: All numbers except for EPS anS are in $ millions.Using the overall mevalue of the average component values calculatein Part the sustainable growth rate for Chevron is: A.19.2% B.18.3% C.20.8% The four components of PRare computefor 2007 follows:P (Profit margin) = NI/Sales = 18,688/214,091 = 0.0873R (Retention) = b = (EPS – S)/EPS = (8.77 – 2.26)/8.77= 0.7423A (Asset turnover) = Sales/Average totassets= 214,091/0.5(148,786) + 132,628) = 1.5215T (Leverage) = Average totassets/Average shareholrs’ equity= (148,786 + 132,628)/(77,088 + 68,935) = 1.9272The components are similarly computefor the other years ansummarizein the following table. Their average values are also incluUsing the average values for eacomponent,g = PR= (0.0812)(0.7390)(1.6250)(1.9736) = 0.1924 or 19.2 percentThe sustainable growth rate for Chevron baseon the PRexpression is 19.2 percent. 老师，您好！根据公式 sustainable growth rate = roe * b计算，b = 0.7423，平均equity = (77088+68935)/2, 得到最后答案19%。这个prmol为什么要搞这么复杂呢？