Royal Ware Company has stockholders equity of $400,000 and net income of $60,000. It has a payout

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Royal Ware Company has stockholders’ equity of $400,000 and net income of

$60,000. It has a payout ratio of 25% and a return on assets ratio of 16%. How much did Royal Ware pay in cash dividends, and what were its average total assets?

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