Question: Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2010, and that all income statement items reflect activities

Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2010, and that all income statement items reflect activities that occurred during the year ended December 31, 2010. There were no changes in paid-in capital during the year. a. Prepare an income statement and statement of changes in stockholders' equity for the year ended December 31, 2010, and a balance sheet at December 31, 2010, for Shae. 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? 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)? a. Indicate the amount of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration

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