Sheet1 Financial Statements, Cash Flow, and Taxes Laiho Industries: Balance Sheets as of December 31 (in thousands of dollars) 20212020 Assets Cash $104,522$89,380 Accounts receivable 102,66485,296...

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Sheet1 Financial Statements, Cash Flow, and Taxes Laiho Industries: Balance Sheets as of December 31 (in thousands of dollars) 20212020 Assets Cash$104,522$89,380 Accounts receivable102,66485,296 Inventories37,66834,558 Total current assets$0$0 Net fixed assets68,62543,394 Total assets$0$0 Liabilities and equity Accounts payable$30,187$22,220 Accruals30,82922,835 Notes payable15,43113,011 Total current liabilities$0$0 Long-term debt75,62865,128 Total liabilities$0$0 Common stock102,50090,000 Retained earnings58,90439,434 Total common equity$0$0 Total liabilities and equity$0$0 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 sales15% Depr. as a % of fixed assets17% Tax rate25% Interest expense$9,068 Dividend payout ratio48.25% Laiho Industries: Income Statement for Year Ending December 31, 2021 (in thousands of dollars) 2021Formulas SalesERROR:#N/A Operating costs excluding depreciation and amortizationERROR:#N/A EBITDAERROR:#N/A Depreciation and amortizationERROR:#N/A EBITERROR:#N/A InterestERROR:#N/A EBTERROR:#N/A Taxes (25%)ERROR:#N/A Net IncomeERROR:#N/A Common dividendsERROR:#N/A Addition to retained earningsERROR:#N/A b. Constructing the statement of stockholders' equity for the year ending December 31, 2021, and the 2021 statement of cash flows Laiho Industries: Statement of Stockholders' Equity, December 31, 2021 (in thousands of dollars) Common StockRetained EarningsTotal Stockholders' Equity Balances, December 31, 2020ERROR:#N/AERROR:#N/AERROR:#N/A Common stock issueERROR:#N/AERROR:#N/A 2021 Net incomeERROR:#N/A Cash dividendsERROR:#N/A Addition to retained earningsERROR:#N/A Balances, December 31, 2021ERROR:#N/AERROR:#N/AERROR:#N/A Laiho Industries: Statement of Cash Flows for 2021 (in thousands of dollars) Operating Activities2021Formulas Net incomeERROR:#N/A Depreciation and amortizationERROR:#N/A Increase in accounts payableERROR:#N/A Increase in accrualsERROR:#N/A Increase in accounts receivableERROR:#N/A Increase in inventoriesERROR:#N/A Net cash provided by operating activitiesERROR:#N/A Investing Activities Additions to property, plant, and equipmentERROR:#N/A Net cash used in investing activitiesERROR:#N/A Financing Activities Increase in notes payableERROR:#N/A Increase in long-term debtERROR:#N/A Increase in common stockERROR:#N/A Payment of common dividendsERROR:#N/A Net cash provided by financing activitiesERROR:#N/A Summary Net increase/decrease in cashERROR:#N/A Cash at the beginning of the yearERROR:#N/A Cash at the end of the yearERROR:#N/A c. Calculating 2020 and 2021 net operating working capital (NOWC) and 2021 free cash flow (FCF) Excesss cash$0 NOWC2020 (in thousands of dollars)ERROR:#N/A NOWC2021 (in thousands of dollars)ERROR:#N/A FCF2021 (in thousands of dollars)ERROR:#N/A e. Calculating the firm's 2021 EVA After-tax cost of capital10.5% EVA2021 (in thousands of dollars)ERROR:#N/A f. Calculating the firm's MVA at year-end 2021 Stock price$22 Shares outstanding10,000 MVA2021 (in thousands of dollars)ERROR:#N/A
Answered Same DaySep 05, 2021

Answer To: Sheet1 Financial Statements, Cash Flow, and Taxes Laiho Industries: Balance Sheets as of December 31...

Akshay Kumar answered on Sep 06 2021
151 Votes
Sheet1
    Financial Statements, Cash Flow, and Taxes
    Laiho Industries: Balance Sheets as of December 31
    (in tho
usands 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...
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