2. If number of shares outstanding is 1 billion, and every number in the following income statement is in million, what is the dividend payout ratio and plowback ratio? (10 points) DOLE COLA 2019 Income Statement Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income $600 300 150 $150 30 $120 25 $ 95 I Taxes Net Income Dividends Addition to retained earnings $30 65 Answer: 3. Billy's Exterminators, Inc., has net sales of $900,000, net working capital of $300,000, COGS of $400,000, current liabilities of $200,000, depreciation expense of $100,000, interest expense of $40,000, inventory of $100,000. The tax rate of 25 percent. If the dividend payout ratio is 30%, what is the net income and What is addition to retained earnings this year? Check your answer: Addition to retained earnings is $189,000 (30 points) Show your calculation to get full points