Excel Activity: Financial Statements, Cash Flow, and Taxes B: Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash Laiho Lodustrietis. 2020 and 2021 balance sheets (in thousands of dollars) are shown. flows. Hint: The difference in accumulated depreciation from one year to the next is the annual depreciation expense for the year. Laihe Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dellars) The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis to answer the questions 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. Sales for 2021 were $437,650,000, and EBITDA was 16% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $9,194,000, the corporate tax rate was 25%, and Laiho pays 47.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. A: Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) Laihe Industries: Statement of Cash Flows for 2021 (thousands of dollars) c. Calculate 2020 and 2021 net operating working capital (NOwC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC 2000: I in the blank 41 thousand NOWC 2001: in the blank 42 thousand FCF 2021:$ in the blank 43 thousand D. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on taxes paid by the company's shareholders? If Laiho increased its dividend payout ratio, the firm would pay More, / less, / the same amount / of corporate taxes and the company's shareholders would pay More, / less, / the same amount / of taxes on the dividends they would receive. E. Assume that the firm's after-tax cost of capital is 9.5\%. What is the firm's 2021 EVA