Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales for 2021 were $453,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,433,000, the

image text in transcribed

Sales for 2021 were $453,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,433,000, 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)2021Sales$ fill in the blankOperating costs excluding depreciation and amortizationfill in the blankEBITDA$ fill in the blankDepreciation and amortizationfill in the blankEBIT$ fill in the blankInterestfill in the blankEBT$ fill in the blankTaxes (25%)fill in the blankNet income$ fill in the blankCommon dividends$ fill in the blankAddition to retained earnings$ fill in the blank

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Theory Perspectives From China

Authors: Xingyun Peng

1st Edition

1938134311, 1938134338, 9781938134319, 9781938134333

More Books

Students also viewed these Finance questions

Question

1. What are the two major causes of variation? Explain each one.

Answered: 1 week ago