Accounts receivable	$	10,300
Accumulated depreciation		51,100
Cost of goods sold		122,000
Income tax expense		9,000
Cash		64,000
Net sales		206,000
Equipment		129,000
Selling, general, and administrative expenses		30,000
Common stock (8,600 shares)		98,000
Accounts payable		14,200
Retained earnings, 1/1/19		21,950
Interest expense		5,700
Merchandise inventory		38,600
Long-term debt		37,000
Dividends declared and paid during 2019		19,650

Except as otherwise indicated, assume that all balance sheet itemsreflect account balances at December 31, 2019, and that all incomestatement items reflect activities that occurred during the yearended December 31, 2019. There were no changes in paid-in capitalduring the year.

Required:

1. Prepare an income statement and statement of changes instockholders' equity for the year ended December 31, 2019, and abalance sheet at December 31, 2019, for Breanna Inc. Based on thefinancial statements that you have prepared for parta, answer the questions in partsb-e.
2. What is the company's average income tax rate?
3. What interest rate is charged on long-term debt? Assume thatthe year-end balance of long-term debt is representative of theaverage long-term debt account balance throughout the year.
4. What is the par value per share of common stock?
5. What is the company's dividend policy (i.e., what proportion ofthe company's earnings is used for dividends)?