Answer To: Sheet1 Financial Statements, Cash Flow, and Taxes Laiho Industries: Balance Sheets as of December 31...
Akshay Kumar answered on Sep 06 2021
Sheet1
Financial Statements, Cash Flow, and Taxes
Laiho Industries: Balance Sheets as of December 31
(in thousands of dollars)
2021 2020
Assets
Cash $104,522 $89,380
Accounts receivable 102,664 85,296
Inventories 37,668 34,558
Total current assets $244,854 $209,234
Net fixed assets 68,625 43,394
Total assets $313,479 $252,628
Liabilities and equity
Accounts payable $30,187 $22,220
Accruals 30,829 22,835
Notes payable 15,431 13,011
Total current liabilities $76,447 $58,066
Long-term debt 75,628 65,128
Total liabilities $152,075 $123,194
Common stock 102,500 90,000
Retained earnings 58,904 39,434
Total common equity $161,404 $129,434
Total liabilities and equity $313,479 $252,628
a. Constructing the firm's 2021 income statement
Laiho Industries: financial information for 2021
(in thousands of dollars)
Sales $472,650
EBITDA as a percentage of sales 15%
Depr. as a % of fixed assets 17%
Tax rate 25%
Interest expense $9,068
Dividend payout ratio 48.25%
Laiho Industries: Income Statement for Year Ending December 31, 2021
(in thousands of...