Excel Activity: Final Statements, Cash Flow, and T Lehe Intries 22 and 2021 ance sheets thounds of show Lathe Industrie Balance Sheets as of December 31 (thousand Can Tul 2021 300,4 39,728 $249,243 315,254 2020 30,67 32,99 18,199 $33,380 24,299 13,09 Tel current bebities $79,375 $61,33 L 79353 65,902 301,000 $1,000 Lathe Industries Income Statement for Year Ending December 31, 3031 Se for 2021 were $451,130,000, and EBITDA wee 15% of sales. Furthermore, depreciation and amortization were 17% af at food ass, forest was $7,779,000, the corporate last was 25%, and Laho says 47.23% condenser tination, construct the fm's 2021 inc Lathe Industries Income Statement for Year Ending December 31, 2031 Operating costs uding depreciation EBITDA Depreciation and amortization " C A Canuck Bees, December 31, 201 " 2021 Total Stockho Common Steck Equity Lalho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Total Stockholders' Common Stock Retained Earnings Balances, December 31, 2020 $ $ Common stock issue 2021 Net income Cash dividends Addition to retained earnings Balances, December 31, 2021 Equity Lalho Industries: Statement of Cash Flows for 2021 (thousands of dollars) Operating Activities Net income Depreciation and amortization Increase in accounts payable a Increase in accruals Increase in accounts receivable Increase in inventories Net cash provided by operating activities Investing Activities Additions to property, plant, and equipment Net cash used in investing activities Financing Activities Increase in notes payable Increase in long-term debt Increase in common stock Payment of common dividends Net cash provided by financing activities Summary Net increase/decrease in cash Cash at the beginning of the year Cash at the end of the year 2021 c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash NOWC2020 NOW FCF 2015 thousand thousand thousand Laiho increased its dividend payout rate, what effect would this have on corporate taxes paid? What effect would this have on taxes paid by the company's shareholders? If Laine increased its dividend payout ratio, the firm would pay corporate tases and the company's shareholders would pey Assume that the firm's after-tax cost of capital is 9.5%. What is the firm's 2021 EVA thousand f. Assume that the firm's stock price is $24 per share and that at year-end 2021 the firm has 10 million shares outstanding. What is the firm's MVA at year-end 20217 thousand laxes on the dividends they would receive