Below are a balance sheet and an income statement that have been reformulated according to the templates laid out in this chapter.

Income Statement 2009
Operating revenues .............. 134.5
Operating expenses .............. (112.8)
Operating income ................ 21.7
Interest revenues ............... 2.5
Interest expenses ............... (9.6)
Comprehensive income ............. 14.6

a. How much was paid out in net dividends during 20097
b. What is free cash flow for 2009?
c. What was the return on net operating assetsin2009?
d. What was the firm€™s net borrowingcost?

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Balance Sheet Assets Liabilities and Equity 2009 2008 2009 2008 ng assets 2053 189.9 Opat liabilities 342 120.4 120.4 Shareholders' equity 90.0 77.3 251.0 231.9 Financial assets 45.7 42.0 Financial liabilities 251.0 231.9