The following is extracted from the income statement and balance sheet of a firm for 2017. (Amounts in $ thousands) Operating income (after tax) 17,507 Net financial expenses 3,060 Comprehensive income 14,447 The firm paid out all income in dividends at the end of the year and there were no share issues during 2017. The book value of common equity at the end of 2017 was $100,600. The cost of equity capital is 11%. (a) Calculate residual income for 2017. (b) The residual income for 2018 and all subsequent years is expected to be the same as in 2017. Calculate the value of the equity at the end of 2017.