3.) You have reformulated the Imber Aedax Company's most recent financial statements and extracted the following information: Year ended 31 December 2019 $ million Sales 35,200 Interest expense minus interest income 291 Earnings before tax 13,168 Tax expense 2,384 Comprehensive income (CE) 11,809 As at 31 December 2019 Net operating working capital (OWC) Net non-current operating assets (NNCOA) Net financial obligations (NFO) $ million 936 42,287 11,906 a) Calculate NOA (net operating assets) and CSE (common shareholders' equity) at the end of 2019. (2 marks) b) Using the 2019 effective tax rate, calculate NFE (net financial expense) and Ol (operating income or NOPAT) for the year 2019. (5 marks) You now have the following forecast assumptions: 2020 10% 30% Sales growth Ol / sales Previous year OWC / this year's sales Previous year NNCOA / this year's sales NFO/NOA 2021 7% 25% 2.2% 105% 27.5% 2022 4% 20% 2.0% 100% 27.5% thereafter 3% 18% 2.0% 98% 27.5% 27.5% c) Predict sales and Ol for the years 2020 to 2022. Predict NOA, NFO and CSE for the years 2020 to 2022. (6 marks)