The information on the following page was obtained from the records of Breanna, Inc.:

Accounts receivable	$	11,000
Accumulated depreciation		50,400
Cost of goods sold		128,000
Income tax expense		9,000
Cash		62,000
Sales		197,000
Equipment		121,000
Selling, general, and administrative expenses		36,000
Common stock (8,400 shares).		95,000
Accounts payable		12,800
Retained earnings, 1/1/13		26,200
Interest expense		5,000
Merchandise inventory		37,100
Long-term debt		39,000
Dividends declared and paid during 2013		11,300

Except as otherwise indicated, 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 ended December 31, 2013. 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, 2013, and a balance sheet at December 31, 2013, for Breanna, Inc. Based on the financial statements that you have prepared for parta,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?

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 are used for dividends)?