Sales for $2021$ were $$439,150,000,$ and EBITDA was $15\%$ of sales. Furthermore, depreciation and amortization were $18\%$ of net fixed assets, interest was $$9,558,000,$ the corporate tax rate was $25\%,$ and Laiho pays $47\mathrm{.}25\%$ of its net income as dividends. Given this information, construct the firm's $2021$ income statement.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$)$

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.

Download spreadsheet Financial Statements, Cash Flow, and Taxes$-9$f$9619.$xlsx

a$.$ Sales for $2021$ were $$439,150,000,$ and EBITDA was $15\%$ of sales. Furthermore, depreciation and amortization were $18\%$ of net fixed assets, interest was $$9,558,000,$ the corporate tax rate

was $25\%,$ and Laiho pays $47\mathrm{.}25\%$ 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

$2021$

Operating costs excluding depreciation and amortization

EBITDA

Depreciation and amortization

EBIT

Interest

EBT

Taxes $(25\%)$

Net income

Common dividends

Addition to retained earnings

$

$Excol Activity: Finimail Shataments, Cash Flom, and Taxss