Sales for $2021$ were $$465,650,000,$ and EBITDA was $15\%$ of sales. Furthermore, depreciation and amortization were $18\%$ of net fixed assets, interest was $$7,940,000,$ 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.Financial Statements, Cash Flow, and Taxes

Laiho Industries: Balance Sheets as of December $31$

$($in thousands of dollars$)$

$20212020$

Assets

Cash $$104,721$ $$89,400$

Accounts receivable $100,78484,195$

Inventories $38,63734,694$

Total current assets $$244,142$ $$208,289$

Net fixed assets $67,83643,450$

Total assets $$311,978$ $$251,739$

Liabilities and equity

Accounts payable $$30,316$ $$23,010$

Accruals $29,03922,137$

Notes payable $17,99015,170$

Total current liabilities $$77,345$ $$60,317$

Long$-$term debt $73,00661,956$

Total liabilities $$150,351$ $$122,273$

Common stock $100,50088,000$

Retained earnings $61,12741,466$

Total common equity $$161,627$ $$129,466$

Total liabilities and equity $$311,978$ $$251,739$

a$.$ Constructing the firm's $2021$ income statement

Laiho Industries: financial information for $2021$

$($in thousands of dollars$)$

Sales $$465,650$

EBITDA as a percentage of sales $15\%$

Depr. as a $\%$ of fixed assets $18\%$

Tax rate $25\%$

Interest expense $$7,940$

Dividend payout ratio $47\mathrm{.}25\%$

Laiho Industries: Income Statement for Year Ending December $31,2021$

$($in thousands of dollars$)$

$2021$ Formulas

Sales #N$/$A

Operating costs excluding depreciation and amortization #N$/$A

EBITDA #N$/$A

Depreciation and amortization #N$/$A

EBIT #N$/$A

Interest #N$/$A

EBT #N$/$A

Taxes $(25\%)$ #N$/$A

Net Income #N$/$A

Common dividends #N$/$A

Addition to retained earnings #N$/$A