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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

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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 $102,872 Accounts receivable 104,044 Inventories 39,386 Total current assets $246,302 Net fixed assets Total assets 69,366 $315,668 2020 $ 89,065 86,476 35,587 $211,128 44,005 $255,133 Accounts payable Accruals Notes payable Total current liabilities Long-term debt $ 78,721 76,751 Total liabilities $155,472 $ 33,019 30,348 15,354 $ 24,710 22,038 13,324 $ 60,072 65,451 $125,523 Common stock 102,500 90,000 Retained earnings 57,696 39,610 Total common equity $160,196 $129,610

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