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Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) a. Sales for 2021 were $453,150,000, and EBITDA was 14% of sales. Furthermore, depreciation and amortization were 18% of net fixed assets, interest was 59,068,000, the corporate tax rate was 25%, and Laibo pays 47.25% 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) b. Construct the statement of stockholders' equity for the year ending December 31,2021 , and the 2021 statement of cash flows. Hint: The difference in accumulated depreciation from one year to the next is the annual depreciation exponse for the year. Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (thousands of dollars) c. Caiculate 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF). Assume the firm has no excess cash. NOWC 2020:5 thousand NOWC FCF d. If Laiho increased its dividend payout ratio, what effect would this have on corporate taxes paid? What effect would this have on taxes paid by the company's shareholders? If Laine increased its dividend payout ratio, the firm would pay taxes on the dividends they would receive. corporate taxes and the company's shareholders would pay. e. Assume that the firm's after-tax cost of capital is 11.5%. What is the firm's 2021 EVA? Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. I aihn Tnduetriee, Ralanra Shaete as of nacemher 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 que Do not round intermediate calculations. Enter your answers in thousands. For example, an answer of $1 thousand should be entered as 1 , no Round vour answers to the nearest whole number. Use a minus sian to enter neabive values, if anv

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