Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance...

 

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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 2021 $104,180 $ 90,455 103,978 86,507 36,806 39,896 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 $248,054 64,498 $312,552 $ 30,735 31,534 17,568 $ 79,837 76,587 $156,424 99,500 56,628 $156,128 $312,552 $213,768 41,319 $255,087 $ 23,210 24,542 15,078 $ 62,830 65,637 $128,467 87,000 39,620 $126,620 $255,087 a. Sales for 2021 were $447,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 17% of net fixed assets, interest was $8,646,000, the corporate tax rate was 25%, and Laiho pays 47.25% 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 ircome Common dividends Addition to retained earnings $ $ $ $ $ $ $ 2021 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's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2020 2021 $104,180 $ 90,455 103,978 86,507 36,806 39,896 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 $248,054 64,498 $312,552 $ 30,735 31,534 17,568 $ 79,837 76,587 $156,424 99,500 56,628 $156,128 $312,552 $213,768 41,319 $255,087 $ 23,210 24,542 15,078 $ 62,830 65,637 $128,467 87,000 39,620 $126,620 $255,087 a. Sales for 2021 were $447,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 17% of net fixed assets, interest was $8,646,000, the corporate tax rate was 25%, and Laiho pays 47.25% 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 ircome Common dividends Addition to retained earnings $ $ $ $ $ $ $ 2021 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.