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 Egoipment Selline, general, and administrative expenses Common stock (9,000 shares) Accounts payable Retained earnings, 1/1/19 Interest expense Merchandise Inventory Long-tern debt Dividends declared and paid during 2019 $ 10,300 52,200 125,000 9,000 61,589 210,000 127,000 34,000 96,000 10,100 22,80 5,000 37,500 38,990 18,500 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 pold-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 year d. What is the per value per share of common stock? e. What is the company's dividend policy (.e. what proportion of the company's earnings is used for dividends)? 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 parto, 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 year, 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. Reg A1 Reg A2 Reg A3 Reg B to E Prepare an income statement for the year ended December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to indicate a negative financial statement effect.) BREANNA INC. Income Statement For the Year Ended December 31, 2019 0 0 0 S 0 R1 Reg A2 > 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 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. Whot 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)? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Req B to E Prepare a statement of changes in stockholders' equity for the year ended December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to indicate a negative financial statement effect.) BREANNA INC Statement of Changes in Stockholders'Equity For the Year Ended December 31, 2019 Paid-in capital Retained earnings Beginning balance 0 Ending balance Total stockholders' equity 0 Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Req B to E Prepare a balance sheet at December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to indicate a negative financial statement effect.) BREANNA INC. Balance Sheet December 31, 2019 Assets Total current assets Total assets 0 Liabilities Total liabilities 0 Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity 5 0 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 Breanna Inc Based on the financial statements that you have prepared for parto, 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 year d. What is the par value per share of common stock? e. What is the company's dividend policy.e., what proportion of the company's earnings is used for dividends)? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Red AS Reg tot b. What is the company's average income tax rate? (Round your final answer to the nearest whole percentage) 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. (Round your final answer to the nearest whole percentage.) d. What is the par value per share of common stock? (Round your final answer to the nearest whole Dollars.) e. What is the company's dividend policy (.e., what proportion of the company's earnings is used for dividends)? (Round your final answer to the nearest whole percentage.) Show less 96 b. Average income tax rate c. Interest rate d. Par value per share e. Dividend %6
