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 $