Excel Activity: Finencial Statements, Cash Flow, and Taxes Lahho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. 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. a. Sales for 2021 were $434,650,000, and EBITDA was 16% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $7,820,000, the corporate tax rate was 25%, and Laiho 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) b. Construct the statement of stockholders' equity for the year ending December 31,2021 , and the 2021 statement of cash flows, Hint: The diference in accumulated depreciation from one year to the next is the annual depreciation expense for the year. Laiho Industries: Statement of Cash Flows for 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. d. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on taxes 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 taxes on the dividends they would recelve