C4-31 (Algo) Capstone analytical review of Chapters 2, 3, and 4. Calculate liquidity and profitability measures and explain various financial statement relationships for a realty firm LO 4-6, 4-7 DeBauge Realtors Incorporated is a realty firm owned by Jeff and Kristi DeBauge. The DeBauge family owns 100% of the corporation's stock. The following summarized data (in thousands) are taken from the December 31, 2022, financial statements: At December 31,2021 , total assets were $201 and total stockholders' equity was $53. There were no changes in notes payable or paid-in capital during 2022. Required: a. What particular expense do you suppose accounts for the largest portion of the $61 cost of services provided? b. The cost of services provided amount includes all operating expenses (i.e., selling, general, and administrative expenses) except advertising expense. What do you suppose the primary reason was for DeBauge Realtors Incorporated to separate advertising from other operating expenses? c. Calculate the effective interest rate on the notes payable for DeBauge Realtors Incorporated. d. Calculate the company's average income tax rate. (Hint: You must first determine the earnings before taxes.) e. Calculate the amount of dividends declared and paid to Jeff and Kristi DeBauge during the year ended December 31, 2022. (Hint: Do a T-account analysis of retained earnings.) What is the company's dividend policy? (What proportion of the company's earnings are distributed as dividends?) f. DeBauge Realtors Incorporated was organized and operates as a corporation rather than a partnership. What is the primary advantage of the corporate form of business to a realty firm? What is the primary disadvantage of the corporate form? h. Calculate the amount of working capital and the current ratio at December 31, 2022. Assess the company's overall liquidity. i. Calculate ROI (including margin and turnover) and ROE for the year ended December 31, 2022. Calculate the amount of dividends declared and paid to Jeff and Kristi DeBauge during the year ended December 31, 2019. (Hint: Do a T-account analysis of retained earnings.) Note: Amounts should be entered in the full amount and not in 000s. (Example - enter 20,000 and not 20). Since dividends are a deduction from retained earnings, enter the amount of dividends with a minus sign. Calculate the amount of working capital and the current ratio at December 31, 2022. Note: Negative amount should be indicated by a minus sign. Amounts should be entered in the full amount and not in 000 s. (Example - enter 20,000 and not 20 ). Round your ratio answer to 2 decimal places. alculate ROI (including margin and turnover) and ROE for the year ended December 31, 2022 ote: Round your answers to 2 decimal places. c. Calculate the effective interest rate on the notes payable for DeBauge Realtors Incorporated. d. Calculate the company's average income tax rate. (Hint: You must first determine the earnings before taxes.) Note: Enter your percentage answer to the nearest whole number