The following are partial financial statements for an Indus Company that you are required to analyze and value. All amounts are in millions of dollars. Income Statement for Fiscal Year 2004 Sales 2,000 Cost of goods sold 1,500 Gross margin 500 Selling and general expenses 300 Operating income 200 Interest income 5 205 Interest expense 21 Restructuring charge 14 Income before tax 170 Income taxes 60 Net income J Balance Sheet, Year 2004 Assets Liabilities and Equity 2004 2003 2004 2003 Operating assets Debt securities 110 910 B Operating liabilities Financing debt Perferred stock Common equity 113 360 100 E D C 340 100 500 1.000 1,146 1,000 Statement of Common Shareholders Equity, Year 2004 Balance, end of 2003 F G Net income Common dividends Preferred dividends Unrealized loss on debt securities held Foreign currency translation gain (30) (5) 4 Balance, end of 2004 The firm's statutory tax rate is 35.3%. (a) Supply the missing numbers, A to J. (b) Calculate the following for 2004. Use beginning of year balance sheet numbers in denominators. (i) Comprehensive income (ii) Core operating income, after tax (iii) Net financial expense, after tax (iv) Return on net operating assets (RNOA) (v) Core return on net operating assets (Core RNOA) (vi) Net borrowing cost (NBC) (vii) Free cash flow (viii)Net payments to debt holders and debt issuers (c) Show that the following relation holds for this firm: ROCE = RNOA + (Financial Leverage x Operating Spread). (d) Forecast ROCE for 2005 for the case where RNOA is expected to be the same as core RNOA in 2004 and the net borrowing cost is expected to be the same as in 2004