DeBauge Realtors Incorporated is a realty firm owned by Jeff and Kristi DeBauge. The DeBauge family owns 100% of the corporations stock. The following summarized data (in thousands) are taken from the December 31, 2022, financial statements: For the Year Ended December 31, 2022: Commissions revenue Cost of services provided Advertising expense Operating Income Interest expense Income tax expense Net Incone At December 31, 2022: Assets $140 61 27 $ 52 8 15 $29 Cast and short-term investments $30 Accounts receivable, net 40 Property, plant, and equipment, bet 125 Total assets $195 Liabilities and Stockholders Equity Accounts payable $89 Income taxes payable Notes payable (long term) 50 Pald-in capital 23 Retained earnings Total abilities and stockholders equity 121 1 195 At December 31, 2021, total assets were $202 and total stockholders' equity was $51. 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 (Le 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 eamings) What is the company's dividend policy? (What proportion of the company's eamings are distributed as dividendsh 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 worlding capital and the current ratio at December 31, 2022 Assess the company's overall liquidity L Calculate ROI (including margin and turnoven and ROE for the year ended December 31, 2022