Below are summary numbers from reformulated balance sheets for 2007 and 2006 for Kimberly-Clark Corporation, the paper products company, along with numbers from the reformulated income statement for 2007 (in millions).

a. Calculate the following for 2007 and 2006:
(i) Net operating assets.
(ii) Net financial obligations.
(iii) Shareholders' equity.
b. Calculate free cash flow for2007.
c. Show that the accounting relation for change in net operating assets (equation 7.5 in the chapter) works for Kimberly-Clark.
d. What was the net payment to shareholders (the net dividend) in2007?

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2007 2006 Operating assets Operating liabilities Fnancial assets Financial obligations Operating income (after tax Net financial expense (after tax) S18,057.0 6,011.8 382.7 6,496.4 2,740.1 147.1 $16,796.2 5,927.2 270.8 4395.4