Hello,
I am having a lot of trouble answering the questions from stockholders and on but I am not sure if I calculated the balance sheet correctly. Thank you so much
b. Construct the statement of stockholders' equity for the year ending December 31, 2021. Laiho Industries: Statement of Stockholders' Equity For the Year Ending December 31, 2021 (in thousands of dollars) Balances, December 31, 2020 Common stock issue 2021 Net income Cash dividends Addition to retained earnings Balances, December 31, 2021 Laiho Industries Balance Sheets December 31, 2021 and 2020 (in thousands of dollars) Assets Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities and equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2021 \begin{tabular}{r|rr} \multicolumn{1}{c}{2020} & \multicolumn{1}{c}{ Change } \\ \hline & & \\ $102,850 & $89,725 & $13,125 \\ 103,365 & 85,527 & 17,838 \\ 38,444 & 34,982 & 3,462 \\ \hline 244,659 & 210,234 & 34,425 \\ 67,165 & 42,436 & 24,729 \\ \hline$311,824 & $252,670 & $59,154 \\ \hline \end{tabular} \begin{tabular}{rrr|} $30,761 & $23,110 & $7,651 \\ 30,477 & 22,656 & 7,821 \\ 16,717 & 14,217 & 2,500 \\ \hline 77,955 & 59,983 & 17,972 \\ 76,264 & 63,914 & 12,350 \\ \hline 154,219 & 123,897 & 30,322 \\ 100,000 & 90,000 & 10,000 \\ 57,605 & 38,773 & 18,832 \\ \hline 157,605 & 128,773 & 28,832 \\ \hline$311,824 & $252,670 & $59,154 \\ \hline \end{tabular} d. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Show your work. Show your work Excesss cash NOWC 2020 (in thousands of dollars) NOWC 2021 (in thousands of dollars) FCF2021 (in thousands of dollars) e. Calculate the firm's 2021 EVA. Show your work. After-tax cost of capital EVA2021 (in thousands of dollars) f. Calculate the firm's MVA at year-end 2021. Show your work. Stock price Shares outstanding MVA2021 (in thousands of dollars) Show your work 9.5% Show your work c. Construct the 2021 statement of cash flows. Laiho Industries Statement of Cash Flows For the Year Ending December 31, 2021 (in thousands of dollars) 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 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 If current assets increase, show as negative. If current assets increase, show as negative. Check figure $41,962 Change in net fixed assets plus depreciation. If change is an increase show as a negative. Check figure $7,982 a. Construct 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 $455,150 15% 18% 25% $8,583 47.25% Laiho Industries Income Statement For the 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 earnings 2021 Hint $386,877.50 $68,272.50 12089.7 $56,182.80 8,583 $47,599.80 11,900 $35,700 Check figure $35,700 = Net income X dividend payout ratio = Net income less common dividends $16,868.18 $18,831.67 b. Construct the statement of stockholders' equity for the year ending December 31, 2021. Laiho Industries: Statement of Stockholders' Equity For the Year Ending December 31, 2021 (in thousands of dollars) Balances, December 31, 2020 Common stock issue 2021 Net income Cash dividends Addition to retained earnings Balances, December 31, 2021 Laiho Industries Balance Sheets December 31, 2021 and 2020 (in thousands of dollars) Assets Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities and equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 2021 \begin{tabular}{r|rr} \multicolumn{1}{c}{2020} & \multicolumn{1}{c}{ Change } \\ \hline & & \\ $102,850 & $89,725 & $13,125 \\ 103,365 & 85,527 & 17,838 \\ 38,444 & 34,982 & 3,462 \\ \hline 244,659 & 210,234 & 34,425 \\ 67,165 & 42,436 & 24,729 \\ \hline$311,824 & $252,670 & $59,154 \\ \hline \end{tabular} \begin{tabular}{rrr|} $30,761 & $23,110 & $7,651 \\ 30,477 & 22,656 & 7,821 \\ 16,717 & 14,217 & 2,500 \\ \hline 77,955 & 59,983 & 17,972 \\ 76,264 & 63,914 & 12,350 \\ \hline 154,219 & 123,897 & 30,322 \\ 100,000 & 90,000 & 10,000 \\ 57,605 & 38,773 & 18,832 \\ \hline 157,605 & 128,773 & 28,832 \\ \hline$311,824 & $252,670 & $59,154 \\ \hline \end{tabular} d. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Show your work. Show your work Excesss cash NOWC 2020 (in thousands of dollars) NOWC 2021 (in thousands of dollars) FCF2021 (in thousands of dollars) e. Calculate the firm's 2021 EVA. Show your work. After-tax cost of capital EVA2021 (in thousands of dollars) f. Calculate the firm's MVA at year-end 2021. Show your work. Stock price Shares outstanding MVA2021 (in thousands of dollars) Show your work 9.5% Show your work c. Construct the 2021 statement of cash flows. Laiho Industries Statement of Cash Flows For the Year Ending December 31, 2021 (in thousands of dollars) 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 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 If current assets increase, show as negative. If current assets increase, show as negative. Check figure $41,962 Change in net fixed assets plus depreciation. If change is an increase show as a negative. Check figure $7,982 a. Construct 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 $455,150 15% 18% 25% $8,583 47.25% Laiho Industries Income Statement For the 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 earnings 2021 Hint $386,877.50 $68,272.50 12089.7 $56,182.80 8,583 $47,599.80 11,900 $35,700 Check figure $35,700 = Net income X dividend payout ratio = Net income less common dividends $16,868.18 $18,831.67
