Laiho industries 2020 and 2021 balance sheets.

Excel Activity: Financial Statements, Cash Flow, and Taxes 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 $111,448 $ 90,655 Accounts receivable 104,500 86,855 Inventories 39,154 35,299 Total current assets $255,102 $212,809 Net fixed assets 67,288 43,113 Total assets $322,390 $255,922 Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity $ 33,000 29,218 17,056 $ 79,274 78,133 $157,407 97,500 67,483 $164,983 $322,390 $ 24,740 21,194 14,236 $ 60,170 64,433 $124,603 85,000 46,319 $131,319 $255,922 The data has been collected in the Microsoft Excel file below. Open the spreadsheet and perform the requi Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) 2021 Sales Operating costs excluding depreciation and amortization EBITDA 3 Depreciation and amortization EBIT 5 Interest EBT $ Taxes (25%) Net income $ Common Stock Common dividerichs Addition to retained amongs B. Construct the statement of stockholdery aguilty for the year ending Decumber 31, 2021. urid the 2021 statement of cash Nowa Laito Industries Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Total Stockholders Retained Earnings Equity Balances, December 31, 2020 5 Common stock issue 2021 Net Income Cash dividends Addition to retained Gaming Balances, Decumber 31, 202: $ $ Laiho Industries: Statement of Cash Flows for 2021 (thousands of dollars) 2021 Operating Activities Net income 5 Depreciation and amortization Increase in accounts payable incase in accruals Increase in accounts receivable Increase in inventories Nutcash provided by operating activities 3 Investing Activities Additions to property, want and equipment $ Net asli dan investing activities 5 Financing Activities Increase in notes payable Increase in long-term dett Increase in common stock Payment of common dividends Girovided by findings Summary Nu incredere in $ Cathering of the year Cash the end of the year Calculate 2020 and 2021 na operating working capital (NOWC) and 2021 free cash flow (FCD). Masure the firm has no exch NOW! thousand NOW: thousand FC: thousand d. Lad dividend payout, what effect would have on corporate aspald? What affect would this have on es paid by the company's sholders? os dividend payout at the firm would pay corporate taxes and the company's olders would pay ons on the dividend ne that the famis tantas cost of capital is 10.7%. What is the firmes 2021 EVA? thousand Dat he is store is person with year-end 2021 the firm has 10 million share outstanding. What is the 'MVA a year-end 20212 thound D 2020 $90,655 86,855 35,299 $212,809 43,113 $255,922 B 2 3 Laiho Industries: Balance Sheets as of December 31 4 in thousands of dollars) 5 2021 6 Assets 7 Cash $111,448 8 Accounts receivable 104,500 9 Inventories 39,154 10 Total current assets $255, 102 11 Net fixed assets 67,288 12 Total assets $322 390 13 14 Liabilities and equity 15 Accounts payable $33,000 16 Accruals 29,218 17 Notes payable 17,056 18 Total current liabilities $79,274 19 Long-term debt 133 20 Total liabilities 157,407 21 Common stock 97,500 22 Retained earnings 67,483 23 Total common equity $164,983 24 Total liabilities and equity $322390 25 26 a. Constructing the firm's 2021 income statement 27 28 Laiho Industries: financial information for 2021 29(in thousands of dollars) 30 31 Sales $461,650 32 EBITDA as a percentage of sales 16% 33 Depr as a % of fixed assets 17% 34 Tax rate 25% Page $24,740 21,194 14,236 $60,170 64,433 $124,603 85,000 46,319 $131,319 $255,922 Sheet1 40 7 8 Laiho Industries, financial information for 2021 29 (in thousands of dollars) 30 31 Sales $461,650 32 EBITDA as a percentage of sales 16% 33 Depr. as a % of fixed assets 17% 34 Tax rate 25% 35 Interest expense $8,930 36 Dividend payout ratio 47.25% 37 38 Laiho Industries: Income Statement for Year Ending December 31, 2021 39 (in thousands of dollars) 2021 Formulas 41 Sales #N/A Operating costs excluding depreciation and #N/A 42 amortization 43 EBITDA #N/A 44 Depreciation and amortization #N/A 45 EBIT #N/A 46 Interest #N/A 47 EBT #N/A 48 Taxes (25%) #N/A 49 Net Income #N/A 50 51 Common dividends #N/A 52 Addition to retained earnings #N/A 53 54 b. Constructing the statement of stockholders' equity for the year ending December 31, 202 55 and the 2021 statement of cash flows 5R Pagez 40 7 8 Laiho Industries: financial information for 2021 29 (in thousands of dollars) 30 31 Sales $461,650 32 EBITDA as a percentage of sales 16% 33 Depr. as a % of fixed assets 17% 34 Tax rate 25% 35 Interest expense $8,930 36 Dividend payout ratio 47.25% 37 38 Laiho Industries: Income Statement for Year Ending December 31, 2021 39 (in thousands of dollars) 2021 Formulas 41 Sales #N/A Operating costs excluding depreciation and #N/A 42 amortization 43 EBITDA #N/A 44 Depreciation and amortization #N/A 45 EBIT #N/A 46 Interest #N/A 47 EBT #N/A 48 Taxes (25%) #N/A 49 Net Income #N/A 50 51 Common dividends #N/A 52 Addition to retained earnings #N/A 53 54 b. Constructing the statement of stockholders' equity for the year ending December 31, 202 55 and the 2021 statement of cash flows 5R Pauz #N/A #N/A #N/A 54 b. Constructing the statement of stockholders' equity for the year ending December 31, 2021, 55 and the 2021 statement of cash flows 56 57 Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 58 (in thousands of dollars) Total Retained Common Stockholders' 59 Stock Earnings Equity 60 Balances, December 31, 2020 61 Common stock issue 62 2021 Net income 63 Cash dividends 64 Addition to retained earnings 65 Balances, December 31, 2021 66 67 Laiho Industries: Statement of Cash Flows for 2021 68 (in thousands of dollars) 69 Operating Activities 2021 Formulas 70 Net income #N/A 71 Depreciation and amortization #NA 72 Increase in accounts payable #N/A 73 Increase in accruals #N/A 74 Increase in accounts receivable #N/A 75 Increase in inventories #N/A 76 Net cash provided by operating activities #N/A 77 78 Investing Activities 79 Additions to property, plant, and equipment #NA 80 Net cash used in investing activities #NA 81 82 Financinn Antivities Sheet1 Payuu B D E 78 Investing Activities 79 Additions to property, plant, and equipment #N/A 80 Net cash used in investing activities #N/A 81 82 Financing Activities 83 Increase in notes payable #N/A 84 Increase in long-term debt #N/A 85 Increase in common stock #N/A 86 Payment of common dividends #N/A 87 Net cash provided by financing activities #N/A 88 89 Summary 90 Net increase/decrease in cash #N/A 91 Cash at the beginning of the year #N/A 92 Cash at the end of the year #N/A 93 94 C. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) 95 Excesss cash $0 96 NOWC2020 (in thousands of dollars) #N/A 97 NOWC2021 (in thousands of dollars) #N/A 98 FCF 2021 (in thousands of dollars) #N/A 99 100 e. Calculating the firm's 2021 EVA 101 After-tax cost of capital 10.5% 102 EVA2021 (in thousands of dollars) #N/A 103 104 f. Calculating the firm's MVA at year-end 2021 105 Stock price $20 106 Shares outstanding 10,000 107 MVA2021 (in thousands of dollars) #N/A 108