jpmorgan chase & co .
/ 2004 annual report 29 firms were aligned to provide consistency across the business segments .
in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments and are retained in corporate .
these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .
capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .
the amount of capital assigned to each business is referred to as equity .
effective with the third quarter of 2004 , new methodologies were implemented to calculate the amount of capital allocated to each segment .
as part of the new methodology , goodwill , as well as the associated capital , is allocated solely to corporate .
although u.s .
gaap requires the allocation of goodwill to the business segments for impairment testing ( see note 15 on page 109 of this annual report ) , the firm has elected not to include goodwill or the related capital in each of the business segments for management reporting purposes .
see the capital management section on page 50 of this annual report for a discussion of the equity framework .
credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .
at the time of the merger , the reimbursement methodology was revised to be based on pre-tax earnings , net of the cost of capital related to those exposures .
prior to the merger , the credit reimburse- ment was based on pre-tax earnings , plus the allocated capital associated with the shared clients .
tax-equivalent adjustments segment results reflect revenues on a tax-equivalent basis for segment reporting purposes .
refer to page 25 of this annual report for additional details .
description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .
the management reporting process that derives these results allocates income and expense using market-based methodologies .
at the time of the merger , several of the allocation method- ologies were revised , as noted below .
the changes became effective july 1 , 2004 .
as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods begin- ning with the third quarter of 2004 .
further , the firm intends to continue to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and it is anticipated that further refinements may be implemented in future periods .
revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .
these revenue sharing agreements were revised on the merger date to provide consistency across the lines of businesses .
funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and interest expense to each line of business and also serves to transfer interest rate risk to corporate .
while business segments may periodically retain interest rate exposures related to customer pricing or other business-specific risks , the bal- ance of the firm 2019s overall interest rate risk exposure is included and managed in corporate .
in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .
expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .
those expenses are allocated based on their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .
effective with the third quarter of 2004 , the cost allocation methodologies of the heritage segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .

Year ended December 31,
Operating earnings
Return on common equity - goodwill<sup>(c)</sup>
(in millions, except ratios)
2004
2003
Change
2004
2003
Investment Bank
$2,948
$2,805
5%
17%
15%
Retail Financial Services
2,199
1,547
42
24
37
Card Services
1,274
683
87
17
20
Commercial Banking
608
307
98
29
29
Treasury & Securities Services
440
422
4
17
15
Asset & Wealth Management
681
287
137
17
5
Corporate
61
668
(91)
NM
NM
Total
$8,211
$6,719
22%
16%
19%

.

Question: Analyse this data from a financial earnings document. in 2004 what was the ratio of the investment bank to the retail financial services operations operating earnings
Choices:
1.27558
1.34061
0.00008
1
0.0091
Correct choice index: 1