Calculate the payout ratio and return on common stockholders equity. On January...
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Accounting
Calculate the payout ratio and return on common stockholders equity.
On January 1,2017, Flint Corporation had these stockholders' equity accounts. Common Stock($10 par value, 67,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $670,000 502,500 620,000 During the year, the following transactions occurred Declared a $0.70 cash dividend per share to stockholders of record on January 31, payable February 15. Paid the dividend declared in January. Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $13 per share. Issued the shares for the stock dividend. Declared a $0.70 per share cash dividend to stockholders of record on December 15, payable January 10, 2018. Determined that net income for the year was $354,000. 15 Jan. Feb. 15 Apr. 15 May 15 Dec. 1 Dec. 31
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