Below are Laiho Industries 2017 and 2018 balance sheet items:

2018 2017

Cash 102,850 89,725

Accounts receivable 103,365 85,527

Long-term debt 76,264 63,914

Accounts payable 30,761 23,109

Common stock 100,000 90,000

Notes payable 16,717 14,217

Net fixed assets 67,165 42,436

Accruals 30,477 22,656

Inventories 38,444 34,982

Retained earnings 57,605 38,774

Sales for 2018 were $455,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 11% of net fixed assets, interest was $8,575,000, the corporate tax rate was 40%, and Laiho pays 40% of its net income as dividends.

Given this information, construct the firms 2018 income statement, statement of cash flows, and statement of owner's equity.

Question 1 1 pts What are expenses excluding depreciation and amortization for 2018? Question 2 1 pts What is EBIT for 2018? Question 3 What is income for 2018? MacBook Air