Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started