Laino noustess 200 and Unce sheets in thousands of cars are shown Lalhe Industriest Balance Sheets as of December 31 (thousands of dollars) 2021 2020 Cash 3102.461 $ 87,685 Accounts receivable 102,203 85,015 Inventories 39,769 36,581 Total current assets $244,433 1210,201 Net ved at 66,73 42,649 Total assets $311,306 $353,130 Accounts payable $ 21,900 Accruals 33,001 23,907 Notes payable 10,005 13,135 Total current labs 77,217 $ 58,902 Long-term det 79,129 65.39 Totale 9156,346 6124201 Common stock 93,500 36,000 Retained ringe 01.460 42,140 Totalcommon equity $154,960 $120.045 Totals and equity 311,300 253,130 The data has been collected in the Microsoft celle below. Download the readsheet and perform the required analysis to answer the question below. Do not found intermediate on nerveur wwers in thousands Portrample, on war of hand should be entered 1,000. Round your own to the nearest wholm so to enter negative values in Download Sorahad StatCashow.ad.00 for 3021 were 469,150,000, and EBITDA was 15% sales. Furthermore, depredation and amortization were 105 of discos, interest was 58.815,000, the corporate tax rate was, and the 411.25% of its net income as dividends Given this information, construct the '2021 Income statement Sales for 2021 were $165,150,000, and EBITDA 15% of sales. Furthermore, deprecation and mortation were 19 ore ed assets, interest wat 1,315,000, the corporate tax rate was 25%, and to pays 40.25of its netcomes dividend Given this information, construct the firm's 2071 income statement Laihe Industriest Income Statement for Year Ending December 31, 2021 (thousands of dollars) 2021 Sales . Operating costs excluding depreciation and artition COITOA $ Deprecation and mortation EBIT Interest EBT The (25) Netcome AZ Common vidende Mon to retained earnings Card the statement of stockholders' equity for the year on December 1, 2031, and the 2021 statement of chows. The different met from one year to the existe avaldo perse the year Lale Industries Statement of Stockholders' quity, December 31, 2021 (thousands of dollars) Total Stockholders Common Stock Retained Earning Equity c. December 31, 2070 Common stock 2021 cm Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) Common Stock Retained Earnings Total Stockholders Equity Balances, December 31, 2020 $ Common stock Issue 2021 Net Income Cash dividends Addition to retained earnings Balances, December 31, 2021 Laiho Industries Statement of Cash Flows for 2021 (thousands of dollars) 2021 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 Increase in long-term debt Increase in common stock Payment of common dividends Net cash provided by Ninancing activities Summary Net Increase/decrease in cash Cash at the beginning of the year Cash at the end of the year c. Calculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FC) Assume the firm has no excess cash NOW! thousand NOW thousand PC10311 thousand Caves d. If alho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What affect would this have on taxes paid by the company's shareholders? If Laiho increased its dividend payout ratio, the firm would pa v corporate tives and the company shorholders would be on the dividends they would receive Assume that the matter tax cost of capital is 11.5% Wheme amount of thousand 1. Assume that the firm's stack price 1 523 pee share and that ot year-end 2021 the firm has 10 milion shares outstanding. What is the firm's MVA at year-end 20217 $ 5 thousand Check My Work Reset