The stockholders equity accounts of Pronghorn Corp. on January 1, 2017, were as follows. ...
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Accounting
The stockholders equity accounts of Pronghorn Corp. on January 1, 2017, were as follows.
Preferred Stock (6%, $100 par noncumulative, 4,250 shares authorized)
$255,000
Common Stock ($3 stated value, 350,000 shares authorized)
875,000
Paid-in Capital in Excess of Par ValuePreferred Stock
12,750
Paid-in Capital in Excess of Stated ValueCommon Stock
560,000
Retained Earnings
686,000
Treasury Stock (4,250 common shares)
34,000
During 2017, the corporation had the following transactions and events pertaining to its stockholders equity.
Feb.
1
Issued 5,440 shares of common stock for $32,640.
Mar.
20
Purchased 1,500 additional shares of common treasury stock at $9 per share.
Oct.
1
Declared a 6% cash dividend on preferred stock, payable November 1.
Nov.
1
Paid the dividend declared on October 1.
Dec.
1
Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.
Dec.
31
Determined that net income for the year was $275,600. Paid the dividend declared on December 1.
Calculate the payout ratio, earnings per share, and return on common stockholders equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.)
Payout ratio
enter the payout ratio in percentages rounded to 1 decimal place
%
Earnings per share
$enter earnings per share in dollars rounded to 2 decimal places
Return on common stockholders equity
enter the return on common stockholders' equity ratio in percentages rounded to 1 decimal place
%
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