Use the information from the table to answer the questions below (in millions of dollars): 2005 165 Operating assets Operating liabilities Financial assets Financial liabilities Interest income Interest expense Comprehensive income The firm has a statutory tax rate of 35%. (a) What was operating income (after tax) for 2005? (b) What was common shareholders' equity at the end of 2005? (c) Net operating assets (NOA) grew by 5% over the year. Calculate free cash flow for 2005. (e) Net payout to shareholders for 2005 was $6 million. What was common shareholders' equity at the beginning of 2005? (f) Forecast residual operating income for fiscal year 2006 based on the information you have (g) Estimate the equity value at the end of 2005 based on the following forecasts: i. RNOA will continue in the future at the same level as in 2005. ii. Net operating assets will grow at the same rate as in 2005. (h) Calculate the levered P/B and unlevered (enterprise) P/B implied by your calculations. Use the information from the table to answer the questions below (in millions of dollars): 2005 165 Operating assets Operating liabilities Financial assets Financial liabilities Interest income Interest expense Comprehensive income The firm has a statutory tax rate of 35%. (a) What was operating income (after tax) for 2005? (b) What was common shareholders' equity at the end of 2005? (c) Net operating assets (NOA) grew by 5% over the year. Calculate free cash flow for 2005. (e) Net payout to shareholders for 2005 was $6 million. What was common shareholders' equity at the beginning of 2005? (f) Forecast residual operating income for fiscal year 2006 based on the information you have (g) Estimate the equity value at the end of 2005 based on the following forecasts: i. RNOA will continue in the future at the same level as in 2005. ii. Net operating assets will grow at the same rate as in 2005. (h) Calculate the levered P/B and unlevered (enterprise) P/B implied by your calculations