Looking for answers on these financial statement analysis questions. The excel document has 5 tabs. The tab labeled as Answers has the questions and an orange box where the answer needs to go. The other 4 tabs provide the supporting documentation to go with each question.

CSE Share Issues (including $4 Share Repurchases Common Dividends CSE End Tax Rate 450 270 27 17 793 35% Sales Operating income (after tax) Net financial expense (after tax) Comprehensive income Average net operating assets Average common equity 2004 12,257 858 56 802 4,903 3,503 2005 12,867 772 98 674 4,949 2,149 Balance Sheet Operating Assets Financial Asset 23457 1221 Total 24678 Income Statement over 6 months Sales COGS Gross 26776 18795 7981 Selling and Store Pre Opening G&A Total 4963 59 436 5458 Operating Income 2523 Interest & Investm Interest Expense Interest Net 22 -11 11 EBT Income Tax 2534 978 Earnings 1556 Financial Liabilities Operating Liabilitie Common Equity 1320 6709 16649 24678 2002 Sales Core operating expenses Core operating income Unusual operating income Net financial expense Comprehensive income Net operating assets Net financial obligations Common equity 2003 2004 1,906 1,985 1,773 1,846 133 139 --------133 139 7 8 126 131 2,064 1,919 145 -45 100 8 92 945 150 795 983 155 828 1,022 175 847 2005 2,147 1,997 150 60 210 9 201 1,063 120 943 1 Calculate Comprehensive Income 2 Calculate return on common equity (ROCE) for 2004 (in pe 3 Calculate return on common equity (ROCE) for 2005 (in pe 4 Calculate return on net operating assets (RNOA) for 2004 ( 5 Calculate return on net operating assets (RNOA) for 2005 ( 6 Calculate net borrowing cost (NBC) for 2004 (in percent). 7 Calculate net borrowing cost (NBC) for 2005 (in percent). 8 How much of the change in ROCE over the two years is du 9 How much of the change in ROCE over the two years is du 10 How much of the change in ROCE over the two years is du 11 How much of the change in ROCE over the two years is du 12 Calculate Financial leverage (use three decimal places for 13 After-tax profit margin (in percent) 14 What was the asset turnover during these six months? 15 What was the residual operating income over the six month 16 Calculate 17 At 18 - 38 the free cash flow generated by operations during the current market price of $50 per share, what growth ra Fill In The following table (remember when a balance sheet 2003 ROCE Core RNOA FCF Net Payment to Shareholders ATO Core PM NOA Growth 2004 2005 OCE) for 2004 (in percent). OCE) for 2005 (in percent). ts (RNOA) for 2004 (in percent). ts (RNOA) for 2005 (in percent). 2004 (in percent). 2005 (in percent). er the two years is due to change in profit margin (in percent)? er the two years is due to change in asset turnover (in percent)? er the two years is due to change in financial leverage (in percent)? er the two years is due to change in borrowing costs (in percent)? e decimal places for this answer only) ese six months? me over the six months? by operations during the six months (in millions of dollars). share, what growth rate for residual operating income does the market forecast for the when a balance sheet account is in the denominator, use the average of the beginning market forecast for the future (in percent)? age of the beginning and ending of the year - So for 2003, any balance sheet denomi alance sheet denominators would be the average of 2002 and 2003)