mework The following information was obtained from the records of Shoe Inci: Merchandise inventory Sate payable long-ter) Set sales Buildings and equipment Selling general, and administrative expenses Acta receivable Common stock (25,000 shares) The tax expense Cat Retained earnings, 111/19 Recrund liabilities Coat of gode sold Accumulated depreciatim Interests Accouts payable Dewidende declared and paid during 2019 $103,500 115,000 345,000 209,000 34,500 51,750 150,000 24,840 177,657 92.250 6,900 201,000 93.150 20,700 34,500 9,153 Except as otherwise Indicated, assume that al balance sheet items reflect account balances at December 31, 2019, and that all income statement terms 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 Shoe Inc. Based on the financial statements that you have prepared for parta, answer the questions in parts b-e. What's 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. 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. Rest RAGA Red to What the company's average income tax rate (Round your finner to the nearest whole percentage) contestate charged on long term deume that the year and balance of long term debt is representative of there long term debt count balance throughout the year. (Round your final awer to the nearest whole percentage) What the parle per share of common (Round your finansner to the nearest whole Dollars.) What is the coms dividend police, what proportion of the company's earnings is used for dividends) [Hound your The information on the following page was obtained from the records of Breanne Inc. Accounts receivable Accumulated depreciation Cost of goods sold Income tax experie Cash hot sales Equipment Selling, general, and sinistrative expertise Como stock (%100 shares) Accounts payable Retained earnings, 1/1/19 Interest expens Merchandise inventory Long-term debe Dividende declared and paid during 2019 $ 10,900 51,300 123.00 100 63,300 298,000 129.000 33,000 92,000 12,600 34,350 5,500 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 terms reflect activities that occurred during the year ended December 31, 2019. There were to changes in paid in capital during the year Required: 2. 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 at you have prepared for parte, answer the questions in parts be. b. What is the company's average income tax rate? c. What interest rates charged on long term debt? Assume that the year end balance of long-term debt a representative of the average long-term debt account balance throughout the year. What is the companys dvidend policyke, what proportion of the company's earnings is used for vidends? Complete this question by entering your answers in the tabs below. Red Al RA Wat is the company's average income tax rate (round your finalwer to the nearest whole percentage) What interest rate is charged on long-term debt? Assume that the year-end balance of long-term debt is representave of the average long term deccount balance throughout the year. (Round your finanswer to the nearest whole percentage.) d. What is the per le pershare of common stock (Round your final answer to the nearest whole Dolla.) What is the company's dividend policy, what proportion of the company's earnings is ved for dividends Round your to the nearest whole percentage.) encore und
