Merchandise inventory Sotes payable (long-tem Net sales Buildings and equipment Selling, general, and administrative expenses Accounts receivable Common stock 125,000 shares) Income tax expense Cash Retained earningo, 1/1/19 Accrued liabilities cont of goods sola Related depreciation Interest expense Accounts payable Dividends declared and paid during 2019 5103,500 115,000 345,000 207.000 34,500 51,250 150,000 24.040 177,657 92,250 6.900 207.000 93,150 20,700 34,500 9,653 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 pald-n 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 Shae inc Based on the financial statements that you have prepared for part, answer the questions in parts b-e. b. What is the company's average income tax rate? e. What interest rates 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 e. What is the company's dividend policy ile, what proportion of the company's earnings is used for dividends? Complete this question by entering your answers in the tabs below. RAI Meg A2 Rega He to Prepare an income statement for the year ended December 31, 2019, for Shae Inc. (Enter decreases with a minus signito indicate a negative financial statement effect) come talon For Year Ended December 31, 2013 0 0 HA The information on the following page was obtained from the records of Breanne Inc 10,000 51.200 12:3,000 9,000 6,500 Este 198, 120.000 Accounts receivable Accumolated depreciation Cot of goods sold Income tax expense CA Det general, and adninistrative expenses Care stock (1.100 shares) Accounts payable Fetaldeari. 1/2/31 Interested Merchandise aty ter det Dividende decised ant pald daring 2018 13.00 12.000 2.600 0.250 3.560 37,100 36,000 14,250 Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all income statement les reflect activities that occurred during the year ended December 31, 2019. There were no changes in paid in capital during the year Required: 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 perts be. 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 per value per share of common stock? .. What is the company's dividend policy, what proportion of the company's earnings is used for dividends? Complete this question by entering your answers in the tabs below. RAI RA Red AS Redstot Prepare an income statement for the year ended December 31, 2019, for Breanna Inc (trer decreases with a minus sign to cente financialmente) RA3
