Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. (theesarsts of bollars) Arocotion expense for the year, Adstion te retained nainingr chrocions expmse for the mor. Iaith Industries: Statement of Stochholders' Equity, Decomber 31, 2021 (thousands of tollars) E. Calculate 2020 and 2021 net operating working capital (wowC) and 2021 free cash flow fron. Aswabe the firm has no excess cash. Nowerosoi: 1 thousand Nowcrast 1 thoukans thousand If Laho increased its dwidend payout ratio, the firm wocld cay cervorate twes and the crmpanys shareholders nould pay E. Astume that the fim is after tar cost of capital is 11.5%. What is the firm's 2021 fVA? thousand thousand