Advertising expenditures 78,000

Cost of goods sold 2,433,000

Depreciation 78,000

Gross sales 3,210,000

Interest expenses 64,000

Lease payment 52,000

Management salary 240,000

Material purchase 2,425,000

R&D expenditures 35,000

Repair and maintenance costs 22,000

Returns and allowances 48,000

Taxes 51,000

Treasury stock 20,000

Gross fixed assets 284,950

Inventory 136,500

Accrued expenses 11,850

Accumulated depreciation 82,310

Notes payable 32,570

Preferred stock 8,000

Retained earnings 89,280

Current portion of L-T debt 4,080

Long-term debt 134,300

Accounts receivable 105,770

Additional paid-in capital 71,600

Accounts payable 50830

Common stock ($0.50 par) 60,000

Cash & Equivalents ?

Marketable securities 20,500

Suppose that ZEBRA decided to pay $50,000 of its 2016 earnings in dividends to shareholders. Calculate ZEBRA current dividend payout ratio and the retained earnings ratio.