Accounts receivable $ 10, 300 Accumulated depreciation 51, 800 Cost of goods sold 128, 000 Income tax expense 9 , 000 Cash 61, 500 Net sales 194 , 000 Equipment 124, 000 Selling, general, and administrative expenses 38, 000 Common stock (9,500 shares) 96, 000 Accounts payable 13, 400 nces Retained earnings, 1/1/19 29, 300 Interest expense 5,000 Merchandise inventory 37, 700 Long-term debt 36 , 000 Dividends declared and paid during 2019 7,000 Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement items reflect activities that occurred during the year ended December 31, 2019. There were no changes in paid-in capital during the year. Required: a. Prepare an income statement and statement of changes in stockholders' equity for the year ended December 31, 2019, and a balance sheet at December 31, 2019, for Breanna Inc. Based on the financial statements that you have prepared for part a, answer the questions in parts b-e. b. What is the company's average income tax rate? c. What interest rate is charged on long-term debt? Assume that the year-end balance of long-term debt is representative of the average long-term debt account balance throughout the year. d. What is the par value per share of common stock? e. What is the company's dividend policy (i.e., what proportion of the company's earnings is used for dividends)