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Prepare the stockholders equity section of the balance sheet at December 31, 2017. Include 2017 net income of $364,100 as an increase to the January 1, 2017, Retained Earnings.

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Calculate the payout ratio, earnings per share, and return on common stockholders equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.)

The stockholders' equity accounts of Swifty Corporation on January 1,2017, were as follows. Preferred Stock (896, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (5,000 common shares) $300,000 1,000,000 15,000 480,000 689,000 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 5,000 shares of common stock for $35,000 Purchased 1,000 additional shares of common treasury stock at $7 per share. Declared a 8% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31,2017 Paid the dividend declared on December 1. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Your answer is incorrect. (a) Prepare a tabular summary that includes the January 1, 2017, balances. Do not include the beginning balance in Retained Earni (b) Record the 2017 transactions in the tabular summarv Round answers to O decimal places, eg. 5,275. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negativ sign (or parentheses) in front of the amount entered for the particular Asset,Liability or Equity item that was reduced.) Assets Liabilities PIC in Exces Div. Pay Common Stock Cash (a) Bal $ 1000000 $ (b) Feb. 1 35000 Mar. 20 Oct. 1 Nov. 1