Financial Statements, Cash Flow, and Taxes Laiho Industries: Balance Sheets as of December 31 (in thousands of dollars) Assets 2021 2020 Cash Inventories Accounts receivable Total current assets $104,502 102,296 38,794 $245,592 $88,465 85,037 35,274 $208,776 Net fixed assets 66,459 Total assets $312,051 41,007 $249,783 Liabilities and equity Accounts payable $29,580 $22,800 Accruals 29,804 21,529 Notes payable Total current liabilities Long-term debt Total liabilities 15,079 12,389 $74,463 $56,718 76,184 62,484 $150,647 $119,202 Common stock 99,500 87,000 Retained earnings 61,904 43,581 Total common equity $161,404 $130,581 Total liabilities and equity $312,051 $249,783 a. Constructing the firm's 2021 income statement Laiho Industries: financial information for 2021 (in thousands of dollars) Sales EBITDA as a percentage of sales Depr. as a % of fixed assets Tax rate Interest expense Dividend payout ratio $459,650 14% 17% 25% $7,601 46.25% Laiho Industries: Income Statement for Year Ending December 31, 2021 (in thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net Income Common dividends Addition to retained eamings 2021 Formulas #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A b. Constructing the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (in thousands of dollars)