Question 6 (10 points) The following information is from reformulated financial statements (in millions of dollars): 2007 2008 Net operating assets (NOA)1,9002,400 Net financial obligations (NFO)1.000 A. Calculate ROCE for 2008; use average book value in the denominator. Solution ROCE = Net Income / Average Capital employed 2007 2008 Average Net Operating Assets 1900 2400 2150 Net Financial Obligations 1000 1200 1100 NOA-NFO (Capital Employed) 900 1200 1050 Since you have not provided the complete data, I’ve referred to the same question in our database and used the information. ROCE = 207/1,050 = 0.1971 or 19.71% 2007 2008 Average Net Operating Assets 1900 2400 2150 Net Financial Obligations 1000 1200 1100 NOA-NFO (Capital Employed) 900 1200 1050.