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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)
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) 2020 2021 Cash $100,685 Accounts receivable 101,658 Inventories 38,908 Total current assets $241,251 Net fixed assets Total assets Accounts payable Accruals $ 90,270 83,983 35,258 63,855 $305,106 $209,511 40,625 $250,136 $ 30,964 32,474 16,853 77,222 $157,513 102,500 $ 22,520 24,326 14,453 $ 61,299 64,422 $125,721 Notes payable Total current liabilities $ 80,291 Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 45,093 $147,593 $305,106 95,000 29,415 $124,415 $250,136 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. a. Sales for 2021 were $436,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $9,173,000, the corporate tax rate was 25%, and Laiho pays 48.25% 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) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income Common dividends Addition to retained earnings +A $ $ +A $ +A $ AA 2021 436150000
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