Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. I aiho Tndstries: Ralance Sheets as of Decemher 31 (thousands of dollars) Download spreadsheet Financial Statements, Cash Flow, and Taxes-80f7a3.xlsx 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) Laiho Industries: Income Statement for Year Ending December 31,2021 (thousands of dollars) C. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC2020:$ NOWC2021:$ FCF2021:$ If Laiho increased its dividend payout ratio, the firm would pay corporate taxes and the company's shareholders would pay taxes on the dividends they would receive. e. Assume that the firm's after-tax cost of capital is 11.5%. What is the firm's 2021 EVA? $ thousand $ thousand