Question: This is all one question I swear. Please help The information on the following page was obtained from the records of Breanna Inc.: Accounts receivable
This is all one question I swear. Please help





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 (36,000 shares) Accounts payable Retained earnings, 1/1/19 Interest expense Merchandise inventory Long-term debt Dividends declared and paid during 2019 $ 40,000 208,000 512,000 32,000 260,000 800,000 480,000 136,000 360,000 60,000 92,000 24,000 148,000 160,000 48,000 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. 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 (i.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 Req A3 Req B to E Prepare an income statement for the year ended December 31, 2019, for Breanna Inc. (Enter decreases indicate a negative financial statement effect.) BREANNA INC. Income Statement For the Year Ended December 31, 2019 Req A1 Req A2 Req A3 Req B to E Prepare a statement of changes in stockholders' equity for the year ended December 31, 2019, for Brean 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 Ending balance Total stockholders' equity Req A1 Req A2 Req A3 Req B to E Prepare a balance sheet at December 31, 2019, for Breanna Inc. (Enter decreases with a minus sign to ir financial statement effect.) BREANNA INC. Balance Sheet December 31, 2019 Assets Total current assets Total assets Liabilities Total current assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity e. What is the company's dividend policy (i.e., what proportion of the company's earnings is used for dividends)? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A3 Req B to 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 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 (i.e., what proportion of the company's earnings is used for divi % b. Average income tax rate c. Interest rate % d. Par value per share e. Dividend %
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