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14. Mays, Inc. had net income for 2018 of $1,590,000 and earnings per share on common stock of S5. Included in the net income was
14. Mays, Inc. had net income for 2018 of $1,590,000 and earnings per share on common stock of S5. Included in the net income was $225,000 of bond interest expense related to its long-term debt. The income tax rate for 2018 was 30%. Dividends on preferred stock were $300,000. The payout ratio on common stock was 25%. What were the dividends on common stock in 2018? A) S322,500 B) S397,500. C) S361,875 D) $483,750
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