Suggest the correct sequence of steps to calculate return on Equity.

(A) Add all fixed expenses
(B) Calculate profit before tax
(C) Subtract COGS from sales revenue
(D) Calculate profit after tax
(E) Calculate Net profit × 100 ÷ Equity $\left(\frac{Net\, profit × 100}{Equity}\right)$

Choose the correct answer from the options given below:

(C), (A), (B), (D), (E)

The correct answer is Option (2) → (C), (A), (B), (D), (E)