Answer Happy

Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2020 $91,555 85,772 35,005 Cash Accounts receivable Inventories Total current assets. Net fixed assets. Total assets Accounts payable Accruals Notes payable Total current liabilities. Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2021 $105,108 104,696 38,021 $247,825 66,723 $314,548 $ 30,695 29,357 17,923 $ 77,975 76,167 $154,142 105,000 55,406 $160,406 $314,548 $212,332 43,495 $255,827 $ 23,110 21,722 15,653 $ 60,485 63,517 $124,002 95,000 36,825 $131,825 $255,827 The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis to answer the questions below. Do not round intermediate calculations. Enter your answers in thousands. For example, an answer of $1 thousand should be entered as 1, not 1,000. Round your answers to the nearest whole number. Use a minus sign to enter negative values, if any.

a. Sales for 2021 were $457,650,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,764,000, the corporate tax rate was 25%, and Laiho pays 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income Common dividends Addition to retained earnings $ $ LA $ $ LA 2021 457650.00 389002.50 68647.50 12010.14 56637.36 8764.00 47873.36 11968.34 35905.02 17324 18581

b. Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference in accumulated depreciation from one year to the next is the annual depreciation expense for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Retained Earnings Balances, December 31, 2020 Common stock issue 2021 Net income Cash dividends Addition to retained earnings Balances, December 31, 2021 Common Stock $ Total Stockholders' Equity $