Excel Activity Financial Statements, Cash Flow, and Taxes Q Search this Question 1 0/10 Submit Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 2020 Cash $104,704 $ 91,695 Accounts receivable 103.486 84,287 Inventories 38,707 35,133 Total current assets $246,897 $211,115 Net fixed assets 66,441 43,225 Total assets $313,338 $254,340 Accounts payable Acorus Notes Dayable Total current liabilities Long-term debt Totalbes Common stock Retained earnings Total common equity Total abilities and equity $32.130 29,399 16,003 $ 77,532 75,224 $152,806 99,500 61,032 $160,512 $313,338 $ 24,260 21,648 13,653 $ 59,561 63,324 5122,885 87,000 44,455 $131,455 $254,340 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 0 X X a. Sales for 2021 were $431,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, Interest was $9,339,000, the corporate tax rate was 25%, and Lalho pays 48.25% 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) 2021 $ Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income $ $ 5 Common dividends Addition to retained earnings b. Construct the statement of stockholders equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference In accumulated depreciation from one year to the next is the annual depreciation expense for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Total Stockholders Common Stock Retained Earnings $ b. Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference In accumulated depreciation from one year to the next is the annual depreciation expense for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Total Stockholders' Common Stock Retained Earnings Equity Balances, December 31, 2020 Common stock issue 2021 Net Income Cash dividends Addition to retained earnings Balances, December 31, 2021 Laiho Industries: Statement of Cash Flows for 2021 (thousands of dollars) 2021 Operating Activities Net Income Depreciation and amortization Increase in accounts payable Increase in accruals Increase in accounts receivable Increase in inventories Net cash provided by operating activities Investing Activities Back Next Search this course Financial Statements, Cash Flow, and Taxes X A $ 11 Investing Activities Additions to property, plant, and equipment $ Net cash used in investing activities $ Financing Activities Increase in notes payable Increase in long-term debt Increase in common stock Payment of common dividends Net cash provided by financing activities $ Summary Net Increase/decrease in cash Cash at the beginning of the year Cash at the end of the year $ C. Calculate 2020 and 2021 net operating working copitat (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC2020: $ thousand $ NOWC2021: $ thousand FCF202115 thousand d. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on takes paid by the company's shareholders? If Laiho increased its dividend payout ratio, the firm would pay corporate taxes and the company's shareholders would pay G