answer the following questions

The following information was obtained from the records of Shae |nc.: Merchandise inventory $130,500 Notes payable (longterm) 145,000 Net sales 435,000 Buildings and equipment 261,000 Selling, general, and administrative expenses 43,500 Accounts receivable 65,250 Common stock (21,000 shares) 210,000 Income tax expense 28,710 Cash 248,632 Retained earnings, 1/1/19 129,150 Accrued liabilities 8,700 Cost of goods sold 261,000 Accumulated depreciation 117,450 Interest expense 34,800 Accounts payable 43,500 Dividends declared and paid during 2019 15,408 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: [1 (DO. 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 Shae Inc. Based on the financial statements that you have prepared for part 3, answer the questions in pans b-e. What is the company's average income tax rate? . 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. . What is the par value per share of common stock? . What is the company's dividend policy (i.e., what proportion of the company's earnings is used for dividends)? Complete this question by entering your answers in the tabs below. Req Al Req A2 Req A3 Req B to E Prepare an income statement for the year ended December 31, 2019, for Shae Inc. (Enter decreases with a minus sign to indicate a negative financial statement effect.) SHAE INC. Income Statement For the Year Ended December 31, 2019 0 0 0 0