Laiho Industries: Balance Sheets as of December 31 (thousands of dollars)
	2021			2020
Cash	$	101,028		$	87,885
Accounts receivable		105,856			87,289
Inventories		37,429			33,546
Total current assets	$	244,313		$	208,720
Net fixed assets		67,828			44,133
Total assets	$	312,141		$	252,853
Accounts payable	$	28,513		$	21,250
Accruals		31,025			23,180
Notes payable		17,305			14,795
Total current liabilities	$	76,843		$	59,225
Long-term debt		78,561			65,461
Total liabilities	$	155,404		$	124,686
Common stock		96,000			86,000
Retained earnings		60,737			42,167
Total common equity	$	156,737		$	128,167
Total liabilities and equity	$	312,141		$	252,853

Sales for 2021 were $452,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,674,000, 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	452150
Operating costs excluding depreciation and amortization	384328
EBITDA	67822.50
Depreciation and amortization	12209
EBIT	55613.50
Interest	8674
EBT	46939
Taxes (25%)	11735
Net income	35205
Common dividends	16634
Addition to retained earnings	18570

Construct the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows. Hint: The difference in accumulated depreciation from one year to the next is the annual depreciation expense for the year.

Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars)
	Common Stock			Retained Earnings			Total Stockholders' Equity
Balances, December 31, 2020		86000			42167			128167
Common stock issue		10000						10000
2021 Net income					35205
Cash dividends					-16635
Addition to retained earnings								18570
Balances, December 31, 2021		96000			60737			156737

Laiho Industries: Statement of Cash Flows for 2021 (thousands of dollars)
	2021
Operating Activities
Net income	35205
Depreciation and amortization	12209
Increase in accounts payable	7263
Increase in accruals	7845
Increase in accounts receivable	-18567
Increase in inventories	-3883
Net cash provided by operating activities	40072
Investing Activities
Additions to property, plant, and equipment	-35904
Net cash used in investing activities	-35904
Financing Activities
Increase in notes payable	2510
Increase in long-term debt	13100
Increase in common stock	10000
Payment of common dividends	-16634
Net cash provided by financing activities	8976
Summary
Net increase/decrease in cash	13143
Cash at the beginning of the year	87885
Cash at the end of the year	101028

Please Answer: Thank you!

* Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash.

NOWC₂₀₂₀: $ fill in the blank - thousand

NOWC₂₀₂₁: $ fill in the blank - thousand

FCF₂₀₂₁: $ fill in the blank - thousand

* Assume that the firm's after-tax cost of capital is 10.5%. What is the firm's 2021 EVA?

fill in the blank - thousand