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 (9,800 shares) Accounts payable Retained earnings, 1/1/19 Interest expense Merchandise inventory Long-term debt Dividends declared and paid during 2019 $ 10,600 50,600 129,000 9,000 64,500 193,000 125,000 38,000 93,000 11,300 41,350 5,700 38,800 37,000 5,650 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. Alt in the ran ni ANAA INAMA? gnment Savod Help Save & Exit Check 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 te 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 Req 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 blovit ment Saved Complete this question by entering your answers in the tabs below. Reg Ai 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 Req A2 > Prey 4 of 4 HI Next