The information on the following page was obtained from the records of Breanna Inc. Accounts receivable Accumulated depreciation Cost of goods sold Income tax expense Cash Net sales Equipment Selling, general, and administrative expenses Common stock (9,400 shares) Accounts payable Retained earnings, 1/1/19 Interest expense Merchandise inventory Long-term debt Dividends declared and paid during 2019 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 paid-in capital during the year Req Al $ 10,900 51,000 125,000 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 Breanna Inc. Based on the financial statements that you have prepared for part a, answer the questions in parts b-e Req A2 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 par value per share of common stock? e. What is the company's dividend policy (ie, what proportion of the company's earnings is used for dividends)? Req A3 8,500 63,000 207,000 122,000 Complete this question by entering your answers in the tabs below. Req B to E 34,000 98,000 13,200 14,500 5,900 37,600 40,000 16,800 BREANNA INC. Income Statement For the Year Ended December 31, 2019

The information on the following page was obtained from the records of Breanna inc: Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all incom statement items ieflect 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 Breanna inc. Based on the financial statements that you have prepared for part 6 , answer the questions in parts b-e b. What is the company's average income tax rate? c. What interest rate is charged on long-term debr? Assume that the year-end balance of long-term debt is representative of the average iong-term debt account balance throughout the year d. What is the par value per share of common stock? - What is the company's dividend policy (le. what proportion of the company's earnings is used for dividends)? Complete this question by entering your answers in the tobs below. Prepare an income atatement for the year ended December 31,2019 , for Breanna Inc. (Enter docreases with a minus sign to indicate a negative finandal statement effect.) The information on the following page was obtained from the records of Breanna inc: Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2019, and that all incom statement items ieflect 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 Breanna inc. Based on the financial statements that you have prepared for part 6 , answer the questions in parts b-e b. What is the company's average income tax rate? c. What interest rate is charged on long-term debr? Assume that the year-end balance of long-term debt is representative of the average iong-term debt account balance throughout the year d. What is the par value per share of common stock? - What is the company's dividend policy (le. what proportion of the company's earnings is used for dividends)? Complete this question by entering your answers in the tobs below. Prepare an income atatement for the year ended December 31,2019 , for Breanna Inc. (Enter docreases with a minus sign to indicate a negative finandal statement effect.)