For example, an answer of $1 thousand should be entered as 1 , not 1,000 . Round your answers to the nearest whole number. Use a minus sign to enter negative values, If any. X Download spreadsheet Financial Statements, Cash Flow, and Taxes-1d65c4.xisx 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Laiho Industries: Income Statement for Year Ending December 31, 2021 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) depreciation expense for the year. Laino Industries: Statement of Cash Flows for 2021 (thousands of dollars) depreciation expense for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Laiho Industries: Statement of Cash Flows for 2021 (thousands of dollars) c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC2020:$ NOWC 2021 : \$ FCF2021; \$ thousand thousand thousand 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 5 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 9.5%. What is the firm's 2021 EVA? $ thousand For example, an answer of $1 thousand should be entered as 1 , not 1,000 . Round your answers to the nearest whole number. Use a minus sign to enter negative values, If any. X Download spreadsheet Financial Statements, Cash Flow, and Taxes-1d65c4.xisx 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Laiho Industries: Income Statement for Year Ending December 31, 2021 48.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) depreciation expense for the year. Laino Industries: Statement of Cash Flows for 2021 (thousands of dollars) depreciation expense for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Laiho Industries: Statement of Cash Flows for 2021 (thousands of dollars) c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC2020:$ NOWC 2021 : \$ FCF2021; \$ thousand thousand thousand 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 5 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 9.5%. What is the firm's 2021 EVA? $ thousand
