Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Balance Sheets as of December 3 1 ( thousands of dollars ) 2 0 2 1 2 0 2 0 Cash$ 1 0 3 ,

Balance Sheets as of December 31(thousands of dollars)20212020Cash$103,841$88,565Accounts receivable102,30684,240Inventories39,27535,760 Total current assets$245,422$208,565Net fixed assets66,46843,725Total assets$311,890$252,290 Accounts payable$31,313$24,320Accruals31,03023,203Notes payable17,67615,396 Total current liabilities$80,019$62,919Long-term debt77,14864,248 Total liabilities$157,167$127,167Common stock99,50087,000Retained earnings55,22338,123 Total common equity$154,723$125,123Total liabilities and equity$311,890$252,290The data has been collected in the Microsoft Excel file 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.1. Sales for 2021 were $464,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,295,000, the corporate tax rate was 25%, and Laiho pays 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement\table[[,,2021],[Sales,$,464150
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Canadian Public Finance

Authors: Genevieve Tellier

1st Edition

1487594410, 978-1487594411

More Books

Students also viewed these Finance questions

Question

Please help me evaluate this integral. 8 2 2 v - v

Answered: 1 week ago