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Sales for 2021 were $455,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,583,000, the

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Sales for 2021 were $455,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was $8,583,000, the corporate tax rate was 25%, and Laiho pays 47.25% of its net income as dividends. Given this information, construct the firm's 2021 income statement. Requirement H1: PREPARE JOURNAL ENTRIES \begin{tabular}{|l|r|l|r|} \hline a. Borrowed cash on six-month note & 22 & f. Purchased other assets for cash & 3 \\ \hline b. Purchased equipment for cash & 25 & g. Collected accounts receivable & 9 \\ \hline c. Issued additional shares of stock & 5 & h. Paid accounts payable & 10 \\ \hline d. Earned revenues: & & i. Purchased supplies on account & 7 \\ \hline Cash & 47 & j. Received cash for future work & 3 \\ \hline On account & 8 & k. Declared and paid cash dividend & 4 \\ \hline \end{tabular} e. Recognized operating expenses: Cash On credit 25 5

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