Homework Merchandise inventory Notes payable (long-term) set sales Buildings and equipment Selling general, and administrative expenses Accounts receivable common stock (25,000 shares) Theme tax expense Cash Retained earnings, 1/1/19 Recrued liabilities Cost of goods sold Accumulated depreciation Interest expense Accounts payable Dividends declared and paid during 2019 5103,500 115,000 345,000 207.000 34,500 $1,750 150,000 24,840 177,657 72,250 6.900 207.000 93.150 20,700 34,500 9,853 Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all ince 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 Shoe Inc. Based on the financial statements that you have prepared for part a, answert questions in parts b-e. b. What is the company's average Income tax rate? c. What interest rate is charged on long-term debit? 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 e. what proportion of the company's earnings is used for dividenda?? Complete this question by entering your answers in the tabs below. Red Al Reg A2 Reg AS Reg tot Prepare a statement of changes in stockholders equity for the year ended December 31, 2019, for Shae Inc. (Enter decreases with a mission to indicate a negative financial atement effect.) SHAE INC Statement of Changes in holdn'Equy for the Year Ended December 31, 2013 Pin capital Beginning branco Erding to Tony Reg A1 Reg AS Homework Merchandise inventory Notes payable (long-term) set sales Buildings and equipment Selling general, and administrative expenses Accounts receivable common stock (25,000 shares) Theme tax expense Cash Retained earnings, 1/1/19 Recrued liabilities Cost of goods sold Accumulated depreciation Interest expense Accounts payable Dividends declared and paid during 2019 5103,500 115,000 345,000 207.000 34,500 $1,750 150,000 24,840 177,657 72,250 6.900 207.000 93.150 20,700 34,500 9,853 Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all ince 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 Shoe Inc. Based on the financial statements that you have prepared for part a, answert questions in parts b-e. b. What is the company's average Income tax rate? c. What interest rate is charged on long-term debit? 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 e. what proportion of the company's earnings is used for dividenda?? Complete this question by entering your answers in the tabs below. Red Al Reg A2 Reg AS Reg tot Prepare a statement of changes in stockholders equity for the year ended December 31, 2019, for Shae Inc. (Enter decreases with a mission to indicate a negative financial atement effect.) SHAE INC Statement of Changes in holdn'Equy for the Year Ended December 31, 2013 Pin capital Beginning branco Erding to Tony Reg A1 Reg AS
