a. Sales for 2021 were $432,650,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,393,000, 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. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income Common dividends Addition to retained earnings +A $ $ $ +A $ $ +A 2021 Numeric field Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 Cash $101,426 2020 $ 89,860 Accounts receivable 101,633 83,682 Inventories 38,056 35,033 Total current assets $241,115 $208,575 Net fixed assets Total assets 70,997 $312,112 44,385 $252,960 Accounts payable Accruals Notes payable Total current liabilities Long-term debt $ 32,241 29,743 16,658 $ 78,642 77,676 $156,318 $ 24,640 22,720 14,048 $ 61,408 65,276 $126,684 Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 105,500 93,000 50,294 33,276 $155,794 $126,276 $312,112 $252,960
a. Sales for 2021 were $432,650,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 19% of net fixed assets, interest was $8,393,000, 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. Laiho Industries: Income Statement for Year Ending December 31, 2021 (thousands of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income Common dividends Addition to retained earnings +A $ $ $ +A $ $ +A 2021 Numeric field Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 Cash $101,426 2020 $ 89,860 Accounts receivable 101,633 83,682 Inventories 38,056 35,033 Total current assets $241,115 $208,575 Net fixed assets Total assets 70,997 $312,112 44,385 $252,960 Accounts payable Accruals Notes payable Total current liabilities Long-term debt $ 32,241 29,743 16,658 $ 78,642 77,676 $156,318 $ 24,640 22,720 14,048 $ 61,408 65,276 $126,684 Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 105,500 93,000 50,294 33,276 $155,794 $126,276 $312,112 $252,960
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:a. Sales for 2021 were $432,650,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization
were 19% of net fixed assets, interest was $8,393,000, 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.
Laiho Industries: Income Statement for Year Ending December 31, 2021
(thousands of dollars)
Sales
Operating costs excluding depreciation and amortization
EBITDA
Depreciation and amortization
EBIT
Interest
EBT
Taxes (25%)
Net income
Common dividends
Addition to retained earnings
+A
$
$
$
+A
$
$
+A
2021
Numeric field
Transcribed Image Text:Laiho Industries: Balance Sheets as of December 31 (thousands of dollars)
2021
Cash
$101,426
2020
$ 89,860
Accounts receivable
101,633
83,682
Inventories
38,056
35,033
Total current assets
$241,115
$208,575
Net fixed assets
Total assets
70,997
$312,112
44,385
$252,960
Accounts payable
Accruals
Notes payable
Total current liabilities
Long-term debt
$ 32,241
29,743
16,658
$ 78,642
77,676
$156,318
$ 24,640
22,720
14,048
$ 61,408
65,276
$126,684
Total liabilities
Common stock
Retained earnings
Total common equity
Total liabilities and equity
105,500
93,000
50,294
33,276
$155,794
$126,276
$312,112
$252,960
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