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b. Average income tax rate % C. Interest rate % d. Par value per share e. Dividend %SHAE INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2019 Paid-in capital Common stock Retained earnings Beginning balance Net income Less: Dividends declared and paid Ending balance Total stockholders' equityhe following information was obtained from the records of Shae Inc. Merchandise inventory $ 108,080 Notes payable (long-term) 120,080 Net sales 360,600 Buildings and equipment 216,000 Selling, general, and administrative expenses Accounts receivable 54,090 Common stock (20,090 shares) 160,000 Income tax expense 25,560 Cash 189.705 Retained earnings, 1/1/19 98,400 Accrued liabilities 7,200 Cost of goods sold 216,090 Accumulated depreciation 97, 200 Interest expense 22, see Accounts payable 36,000 Dividends declared and paid during 2019 10,735 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 yearBalance Sheet December 31, 2019 Assets Total current assets 0 Total assets 0 Liabilities Total liabilities Stockholders' Equity