Pope's Garage had the following accounts and amounts in its financial statements on December 31, 2013. Assume that all balance sheet items reflect account balances at December 31, 2013, and that all income statement items reflect activities that occurred during the year then ended. 30,200 Accounts receivable Depreciation expense 10,500 24,600 Land 89,000 Cost of goods sold 52,800 Retained earnings Cash 9,800 69,500 Equipment Supplies 5,900 Accounts payable 21,300 26,200 Service revenue Interest expense 3,600 Common stock 8,000 Income tax expense 12,327 45,000 Accumulated depreciation 39,000 Long-term debt Supplies expense 13,400 Merchandise inventory 26,100 149,000 Sales revenue e. What was the average income tax rate for Pope's Garage for 2013? Average income tax rate % f. If $18,500 of dividends had been declared and paid during the year, what was the January 1, 2013, balance of retained earnings? Retained earnings