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 (8,200 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 A1 $ 10,400 50,600 126,000 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 (i.e., what proportion of the company's earnings is used for dividends)? Req A3 9,500 60,500 200,000 127,000 37,000 92,000 Complete this question by entering your answers in the tabs below. Req B to E 14,200 29,150 5,200 38,200 39,000 11,150 BREANNA INC. Income Statement For the Year Ended December 31, 2019 Roq A1 Prepare an income statement for the year ended December 31, 2019, for Breanna Inc. (E indicate a negative financial statement effect.) Req A2 > decreases with a minus sign to

Prepare a balance sheet at December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Prepare a statement of changes in stockholders' equity for thet year ended December 31, 2019, for Breanna decreases with a minus sign to indicate a negative financial 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 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, 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. 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 yeat. d. What is the par value per share of common stock? e. 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 tabs below. Prepare an income statement for the year ended December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to indicate a negative finandai statement effect.)