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Val Corp. declared a P50,000 cash dividend on June 8, 2013 to stockholders of record on June 24, 2013 payable on July 5, 2011. As a result of this cash dividend, working capital Question. O decrease on July 24 O decrease on June 8 O was not affected O Decrease on July 5Leo Co. paid out one-half of its 2019 earnings in dividends. Its earnings increased by 20% and the amount of its dividends increased by 25% in 2020. Leo Co. dividend pay-out ratio in 2020 was Question. O 48% O 46 % O 52 % O 25 %