{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T18:00:43-04:00", "answer_date": "2024-05-27 18:00:43", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1792919", "url": "\/study-help\/questions\/excel-activity-financial-statements-cash-flow-and-taxes-laiho-industriess-1792919", "question_creation_date_js": "2024-05-27T18:00:43-04:00", "question_creation_date": "May 27, 2024 06:00 PM", "meta_title": "[Solved] Excel Activity: Financial Statements, Cas | SolutionInn", "meta_description": "Answer of - Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020 and 2021 balance sheets (in thousan | SolutionInn", "meta_keywords": "excel,activity,financial,statements,cash,flow,taxes,laiho,industries,s,2020,2021", "question_title_h1": " 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", "question_title": " Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020", "question_title_for_js_snippet": "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) Cash 2021 $107,918 Accounts receivable 102,046 Inventories 40,061 Total current assets $250,025 Net fixed assets 64,562 $314,587 $ 32,675 Total assets Accounts payable Accruals Notes payable Total current liabilities Long term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2020 $ 88,965 83,978 36,851 28,941 16,449 $ 78,065 78,814 $156,879 $209,794 40,762 $250,556 $ 24,910 21,332 13,999 $ 60,241 65,164 $125,405 104,500 92,000 53,208 33,151 $157,708 $314,587 $125,151 $250,556 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 Download spreadsheet Financial Statements, Cash Flow, and Taxes 8b83bb xlsx a Sales for 2021 were $447,650,000, and EBITDA was 16 of sales Furthermore, depreciation and amortization were 19 of net fixed assets, interest was $8,661,000, 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 Laiho Industries Income Statement for Year Ending December 31, 2021 (thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA $ 2021 Depreciation and amortization EBIT Interest EBT Taxes (25 ) Net income $ $ $ Common dividends $ Addition to retained earnings $", "question_description": "\"image\"image\"image", "transcribed_text": "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) Cash 2021 $107,918 Accounts receivable 102,046 Inventories 40,061 Total current assets $250,025 Net fixed assets 64,562 $314,587 $ 32,675 Total assets Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2020 $ 88,965 83,978 36,851 28,941 16,449 $ 78,065 78,814 $156,879 $209,794 40,762 $250,556 $ 24,910 21,332 13,999 $ 60,241 65,164 $125,405 104,500 92,000 53,208 33,151 $157,708 $314,587 $125,151 $250,556 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. Download spreadsheet Financial Statements, Cash Flow, and Taxes-8b83bb.xlsx a. Sales for 2021 were $447,650,000, and EBITDA was 16% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,661,000, 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. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA $ 2021 Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income $ $ $ Common dividends $ Addition to retained earnings $", "related_book": { "title": "Accounting Principles", "isbn": "111856667X, 978-1118566671", "edition": "11th Edition", "authors": "Jerry Weygandt, Paul Kimmel, Donald Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/6463204bda3c5_274.jpg", "uri": "\/textbooks\/accounting-principles-11th-edition-274", "see_more_uri": "" }, "free_related_book": { "isbn": "1468494481", "uri": "\/textbooks\/graduate-texts-in-mathematics-linear-algebra-volume-23-1975-1st-edition-978-1468494488-164951", "name": "Graduate Texts In Mathematics Linear Algebra Volume 23 1975", "edition": "1st Edition" }, "question_posted": "2024-05-27 18:00:43", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/who-was-considered-the-nemesis-of-booker-t-washington-in-704472", "description": "Who was considered the nemesis of Booker T. Washington in The Awakening of the New Negro and why?", "stars": 0 }, { "url": "\/west-bengal-company-sold-rs2500000-8-10year-bonds-on-july", "description": "West Bengal Company sold Rs2,500,000, 8%, 10-year bonds on July 1, 2011. The bonds were dated July 1, 2011 and pay interest July 1 and January 1. West Bengal Company uses the straight-line method to...", "stars": 3.5 }, { "url": "\/study-help\/fundamentals-corporate-finance\/cash-requirements-list-two-useful-tools-to-help-an-entrepreneur-1924449", "description": "Cash requirements: List two useful tools to help an entrepreneur to understand the cash requirements of a business and to estimate the financing needs of that business.", "stars": 3.5 }, { "url": "\/study-help\/business-statistics-in-practice\/7-one-of-the-ways-in-which-the-dental-floss-1982347", "description": "=+7. One of the ways in which the dental floss discussed in Exercise 5 can fail is if it snaps when pulled with a certain tension. Historically, only 2% of the tested floss snaps. Suppose boxes of...", "stars": 3.5 }, { "url": "\/according-to-popcornorg-the-mean-consumption-of-popcorn-annually-by", "description": "According to popcorn.org, the mean consumption of popcorn annually by Americans is 54 quarts. The marketing division of popcorn.org unleashes an aggressive campaign designed to get Americans to...", "stars": 3 }, { "url": "\/study-help\/questions\/walsh-company-manufactures-and-sells-one-product-the-following-information-9918892", "description": "Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable costs per unit: Manufacturing: Direct materials $...", "stars": 3 }, { "url": "\/study-help\/questions\/please-prepare-a-list-of-costs-and-expenses-as-follow-4474147", "description": "Please prepare a list of costs and expenses as follow example at least 30 costs with small explanation. Types of costs \/ expenses Prepare a list of costs \/ expenses. How costs can be classified. At...", "stars": 3 }, { "url": "\/study-help\/questions\/q-explain-about-fundamentals-of-baccarat-game-rules-and-why-1003539", "description": "Q. Explain about fundamentals of baccarat, game rules, and why baccarat is so popular with high rollers worldwide.", "stars": 3 }, { "url": "\/study-help\/questions\/516-sleep-duration-of-college-students-in-example-54-the-1007383", "description": "5.16 Sleep duration of college students. In Example 5.4, the daily sleep duration among college students was approximately Normally distributed with mean = 7.13 hours and standard deviation = 1.67...", "stars": 3 }, { "url": "\/study-help\/questions\/a-credit-reporting-company-places-a-fax-machine-in-the-1000074", "description": "A credit reporting company places a fax machine in the office of a mortgage lender, so that the credit reporting company can easily transmit requests for credit reports and the mortgage lender can...", "stars": 3 }, { "url": "\/study-help\/questions\/1describe-the-concept-of-communities-of-practice-why-are-communities-1003166", "description": "1.Describe the concept of Communities of Practice. Why are \"Communities of practice\" Important? (2 Marks) 2.How can organizations cultivate communities of practice? How can these communities of...", "stars": 3 }, { "url": "\/study-help\/questions\/your-target-audience-for-this-project-is-somebody-completely-unaware-1008181", "description": "Your target audience for this project is somebody completely unaware of MS SharePoint, they have absolutely no idea what they are. This should make it easy when choosing how to present your...", "stars": 3 }, { "url": "\/study-help\/questions\/pleasedo-the-journal-entry-for-the-following-questions-sebass-has-8359824", "description": "pleasedo the journal entry for the following questions: SeBASS has total sales for the year of $2,115,000. Included in the total sales figure are $317,250 of cash sales. During the year, the firm...", "stars": 3 }, { "url": "\/hardin-services-co-experienced-the-following-events-in-2016-1-provided", "description": "Hardin Services Co. experienced the following events in 2016: 1. Provided services on account. 2. Collected cash for accounts receivable. 3. Attempted to collect an account and, when unsuccessful,...", "stars": 3.5 }, { "url": "\/study-help\/introduction-to-mixed-modelling\/c-analyse-these-data-by-the-analysis-of-variance-and-1665985", "description": "(c) Analyse these data by the analysis of variance and by mixed modelling.", "stars": 3.5 }, { "url": "\/study-help\/introduction-to-mixed-modelling\/32-an-experiment-using-36-samples-of-portland-cement-is-1665989", "description": "3.2 An experiment using 36 samples of Portland cement is described by Davies and Goldsmith (1984, Section 6.75, pp. 154158). The samples were gauged (i.e. mixed with water and worked) by three...", "stars": 3 }, { "url": "\/study-help\/introduction-to-mixed-modelling\/a-arrange-these-data-for-analysis-by-genstat-r-or-1665987", "description": "(a) Arrange these data for analysis by GenStat, R or SAS. Gauger and Breaker are both to be specified as random-effect terms.", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/assignmentmaindoinvokertakeassignmentsessio-tual-war-keycap-qbus-271-chapter-2-q-chapter-1792918", "next": "\/study-help\/questions\/superior-micro-products-uses-the-weightedaverage-method-in-its-process-1792920" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/excel-activity-financial-statements-cash-flow-and-taxes-laiho-industriess-1792919" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }