#N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #NA #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 Common Retained Earnings Stockholders' 59 Stock Equity 30 Balances, December 31, 2020 51 Common stock issue 52 2021 Net income 53 Cash dividends 54 Addition to retained earings 55 Balances, December 31, 2021 36 57 Laiho Industries: Statement of Cash Flows for 2021 58 (in thousands of dollars) 39 Operating Activities 2021 Formulas 70 Net income #N/A 21 Depreciation and amortization #N/A 72 Increase in accounts payable #N/A 73 Increase in accruals #N/A za in in 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 #N/A 30 30 Net cash used investing activities #N/A 31 32 Financing Activities 33 Increase in notes payable #N/A 34 Increase in long-term debt #N/A 35 35 Increase in com common stock #N/A 36 Payment of common dividends #N/A 37 Net cash provided by financing activities #N/A 38 39 Summary 90 Net increase/decrease in cash #N/A 21 Cash at the beginning of the year #N/A 22 Cash at the end of the year #N/A 33 94 c. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) 35 Excesss cash $0 36 NOWC2020 (in thousands of dollars) #N/A 37 NOWC2021 (in thousands of dollars) #N/A 98 FCF 2021 (in thousands of dollars) #N/A 39 00 e. Calculating the firm's 2021 EVA 01 After-tax cost of capital 11.5% 02 EVA2021 (in thousands of dollars) #N/A 03 04 Calculating the firm's MVA at year-end 2021 05 Stock price $22 06 Shares outstanding 10.000 07 MVA2021 (in thousands of dollars) #N/A 08 00 #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #NA #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 Common Retained Earnings Stockholders' 59 Stock Equity 30 Balances, December 31, 2020 51 Common stock issue 52 2021 Net income 53 Cash dividends 54 Addition to retained earings 55 Balances, December 31, 2021 36 57 Laiho Industries: Statement of Cash Flows for 2021 58 (in thousands of dollars) 39 Operating Activities 2021 Formulas 70 Net income #N/A 21 Depreciation and amortization #N/A 72 Increase in accounts payable #N/A 73 Increase in accruals #N/A za in in 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 #N/A 30 30 Net cash used investing activities #N/A 31 32 Financing Activities 33 Increase in notes payable #N/A 34 Increase in long-term debt #N/A 35 35 Increase in com common stock #N/A 36 Payment of common dividends #N/A 37 Net cash provided by financing activities #N/A 38 39 Summary 90 Net increase/decrease in cash #N/A 21 Cash at the beginning of the year #N/A 22 Cash at the end of the year #N/A 33 94 c. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) 35 Excesss cash $0 36 NOWC2020 (in thousands of dollars) #N/A 37 NOWC2021 (in thousands of dollars) #N/A 98 FCF 2021 (in thousands of dollars) #N/A 39 00 e. Calculating the firm's 2021 EVA 01 After-tax cost of capital 11.5% 02 EVA2021 (in thousands of dollars) #N/A 03 04 Calculating the firm's MVA at year-end 2021 05 Stock price $22 06 Shares outstanding 10.000 07 MVA2021 (in thousands of dollars) #N/A 08 00
