Question
hello, could you please answer this question so that I will be able to learn how to do it? Thank you! Laiho Industries's 2020 and
hello, could you please answer this question so that I will be able to learn how to do it? Thank you!
Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown.
Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) | ||||||
2021 | 2020 | |||||
Cash | $ | 104,458 | $ | 87,950 | ||
Accounts receivable | 104,876 | 87,325 | ||||
Inventories | 37,441 | 34,247 | ||||
Total current assets | $ | 246,775 | $ | 209,522 | ||
Net fixed assets | 67,702 | 42,669 | ||||
Total assets | $ | 314,477 | $ | 252,191 | ||
Accounts payable | $ | 32,246 | $ | 24,060 | ||
Accruals | 33,220 | 24,455 | ||||
Notes payable | 17,308 | 14,318 | ||||
Total current liabilities | $ | 82,774 | $ | 62,833 | ||
Long-term debt | 80,132 | 65,832 | ||||
Total liabilities | $ | 162,906 | $ | 128,665 | ||
Common stock | 95,500 | 88,000 | ||||
Retained earnings | 56,071 | 35,526 | ||||
Total common equity | $ | 151,571 | $ | 123,526 | ||
Total liabilities and equity | $ | 314,477 | $ | 252,191 |
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.
Download spreadsheet Financial Statements, Cash Flow, and Taxes-68ec72.xlsx
Sales for 2021 were $456,150,000, and EBITDA was 16% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,191,000, the corporate tax rate was 25%, and Laiho pays 47.25% 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 | $ |
Common dividends | $ |
Addition to retained earnings |
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