Excel Activity: Financial Statements, Cash Flow, and Taxes

Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown.

Laiho Industries: Balance Sheets as of December 31 (thousands of dollars)
	2021			2020
Cash	$	101,419		$	90,095
Accounts receivable		104,276			85,671
Inventories		39,129			35,227
Total current assets	$	244,824		$	210,993
Net fixed assets		66,517			41,851
Total assets	$	311,341		$	252,844
Accounts payable	$	28,684		$	21,360
Accruals		29,194			21,562
Notes payable		17,579			15,459
Total current liabilities	$	75,457		$	58,381
Long-term debt		74,609			62,309
Total liabilities	$	150,066		$	120,690
Common stock		104,500			92,000
Retained earnings		56,775			40,154
Total common equity	$	161,275		$	132,154
Total liabilities and equity	$	311,341		$	252,844

Sales for 2021 were $450,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $9,152,000, the corporate tax rate was 25%, and Laiho pays 46.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement.

Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars)
	2021
Sales	$ fill in the blank
Operating costs excluding depreciation and amortization	fill in the blank
EBITDA	$ fill in the blank
Depreciation and amortization	fill in the blank
EBIT	$ fill in the blank
Interest	fill in the blank
EBT	$ fill in the blank
Taxes (25%)	fill in the blank
Net income	$ fill in the blank
Common dividends	$ fill in the blank
Addition to retained earnings	$