Hollie Company has stockholders' equity of $400,000 and net income of $72,000. It has a payout ratio

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Hollie Company has stockholders' equity of $400,000 and net income of $72,000. It has a payout ratio of 18% and a return on assets of 20%. How much did Hollie pay in cash dividends, and what were its average total assets?

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Accounting Tools for Business Decision Making

ISBN: 978-1118096895

6th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Aug 24, 2016 02:05 AM

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Hollie Company has stockholders' equity of $400,000 and net income of $72,000. It has a payout ratio

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