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 $ $ $ $ Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC 2020:$ thousand NOWC 2021:$ thousand FCF2021:$ thousand 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 receive. e. Assume that the firm's after-tax cost of capital is 11.5%. What is the firm's 2021 EVA? $ thousand $ thousand a. Sales for 2021 were $455,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 17% of net fixed asset interest was $7,598,000, the corporate tax rate was 25%, and Laiho pays 46.25% 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) . Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference in depreciation from one year to the next is the annual depreciation expense for the year. 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 $ $ $ $ Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC 2020:$ thousand NOWC 2021:$ thousand FCF2021:$ thousand 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 receive. e. Assume that the firm's after-tax cost of capital is 11.5%. What is the firm's 2021 EVA? $ thousand $ thousand a. Sales for 2021 were $455,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 17% of net fixed asset interest was $7,598,000, the corporate tax rate was 25%, and Laiho pays 46.25% 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) . Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference in depreciation from one year to the next is the annual depreciation expense for the year