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 Cash $104,441 2020 $ 88,140 Accounts receivable 102,562 83,740 Inventories 38,358 35,127 Total current assets $245,361 $207,007 Net fixed assets 66,799 41,652 Total assets $312,160 $248,659 Accounts payable Accruals Notes payable $31,019 $ 23,330 31,661 15,930 Total current liabilities $ 78,610 Long-term debt Total liabilities 75,624 $154,234 23,495 13,000 $ 59,825 63,474 $123,299 Common stock Retained earnings Total common equity Total babilities and equity 103,500 54,426 $157,926 $312,160 91,000 34,360 $125,360 $248,659 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-34663.xlsx a. Sales for 2021 were $473,650,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,304,000, 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 Deprecation and amortization EBIT Interest EBT Taxes (25%) Net income $ $