Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industriew: Balance Sheets as of December 31 (thousande of dillarel wh to enter negstire values, if any: a. Sales for 2021 were $462,150,000, and E8ITOA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,765,000, the corporate tax rate was 25%, and Laiho pays 48.25% of its net income as 6ividends. Glven this information, construct the firm's 2021 income statement. Laiho Industriest Income Statement for Year Ending December 31, 2021 (thousands of doliars) b. Construct the statement of stockholders' equity for the year ending December 31,2021 , and the 2021 statement of cash fiows. Hint: The difference in accumudated depreciation from one year to the next is the annual depreciation expense for the year, c. Cavculate 2020 and 2021 net operating working capalal (NOWC) and 2021 free cash fow (FCF). Assume the firm has no ercess cash. d. If Laiho increased its dividend payout ratio, what effect would this have on corporate tanes paid? What effect would this have on tares paid by the conpany's shareholders? It Laho increased its dividend payeut ratio, the firm would pay. tases on the avidenas they would recerve. e. Assume that the firmis after tak cost of capial is 9.5%. What is the firei's 2021 EVA? 5 trevind 1. Auwme that the term's stock price in $22 per share and that at veafend 2021 the fim has 10 mitten shares outuandrig what is the firms Mva at year-end zozi? 5 theisand Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industriew: Balance Sheets as of December 31 (thousande of dillarel wh to enter negstire values, if any: a. Sales for 2021 were $462,150,000, and E8ITOA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,765,000, the corporate tax rate was 25%, and Laiho pays 48.25% of its net income as 6ividends. Glven this information, construct the firm's 2021 income statement. Laiho Industriest Income Statement for Year Ending December 31, 2021 (thousands of doliars) b. Construct the statement of stockholders' equity for the year ending December 31,2021 , and the 2021 statement of cash fiows. Hint: The difference in accumudated depreciation from one year to the next is the annual depreciation expense for the year, c. Cavculate 2020 and 2021 net operating working capalal (NOWC) and 2021 free cash fow (FCF). Assume the firm has no ercess cash. d. If Laiho increased its dividend payout ratio, what effect would this have on corporate tanes paid? What effect would this have on tares paid by the conpany's shareholders? It Laho increased its dividend payeut ratio, the firm would pay. tases on the avidenas they would recerve. e. Assume that the firmis after tak cost of capial is 9.5%. What is the firei's 2021 EVA? 5 trevind 1. Auwme that the term's stock price in $22 per share and that at veafend 2021 the fim has 10 mitten shares outuandrig what is the firms Mva at year-end zozi? 5 theisand
