a. Constructing the firm's 2021 income statement Laiho Industries: financial information for 2021 (in thousands of dollars) Sales EBITDA as a percentage of sales Depr. as a \% of fixed assets Tax rate Interest expense Dividend payout ratio $435,650 15% 19% 25% $8,926 47.25% Laiho Industries: Income Statement for Year Ending December 31, 2021 (in 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 eamings \begin{tabular}{lc} 2021 & Formulas \\ \hline \#N/A \\ \#N/A \\ \hline \#N/A \\ \#N/A \\ \hline \#N/A \\ \#N/A \\ \hline \#N/A \\ \#N/A \\ \hline \#N/A \\ \hline \\ \#N/A \\ \#N/A \end{tabular} b. Constructing the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows Laiho Industries: Statement of Stockholders' Equily, December 31, 2021 (in thousands of dollars) Balances, Decanber 31, 2020 Common stock issue 2021 Net income Cash dividends Addtion to retained eamings Balances, December 31, 2021 Laiho industries: Stalement of Cash Flows for 2021 (in thousands of dollars) Operating Activities Net income Depreciation and amorization Increase in accounts payable Increase in accruals Increase in accounts recelvable Increase in inventodes Net cash provised by operating activitios Investing Activities Addtions to property, plant, and equipment Net cash used in investing activiles Financing Activities Increase in notes payable Increase in long-tems debt Increase in common stock Payment of common dividends Net cash provided by financing actovities Summary Net increaseidecrease in cash Cash at the beginning of the year Cash at the end of the year c. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) Ercosss cash NOWC NOWC 50 FCFeve (n thousands of dolan) WNIA INVA "NIA c. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) Excesss cash NOWC 2020 (in thousands of dollars) NOWC 2021 (in thousands of dollars) FCF 2021 (in thousands of dollars) \$O \#N/A e. Calculating the firm's 2021 EVA After-tax cost of capital \#N/A \#N/A EVA 2021 (in thousands of dollars) 9.5% \#N/A f. Calculating the firm's MVA at year-end 2021 Stock price Shares outstanding M2A2021 (in thousands of dollars) $22 10,000 \#N/A