Problem:
Sales for 2012 were $455,150,000, and EBITDA was 15% of sales. Furthermore, depreciation and amortization were 11% of net fixed assets, interest was $8,575,000, the corporate tax rate was 40%, and Laiho pays 40% of its net income as dividends. Given this information,
Required:
Construct the firm's 2012 income statement.
Note: Explain all calculation and formulas.