c. calculate the dividend payout ratio (dividends of $1.04 per common share for the year) for 2016. (round answer to 2 decimal places.)

Matthias Medical manutectures hasptal bads and other insiitutional furniture. The company's comparathe belance sheet and Income statement for 2015 and 2016 w. Medial Current aasts $332,600 417,400 776,400 531,000 247,000 2, 546,270 2, 121,300 3,678.000 8,440, 100 $11,224,270 10, 551,900 1,055,370 Inventony 717,000 Total currentasts Property, plant, & equipment, net Total assets Liablllties and sStockholders Equlty Current abitie Lona-term cebt 53, 152,800 2,346,000 3.702.800 3,832,800 5,733,500 Totai sblities Preerred stock, 5$5 par value Common stock, $0.25 par value Retained earning: Total stocicholder equlty Total Wabilies and stockhaiders equity $11,224,270 104,500 4, 195,370 4,353, 370 103,300 3,660,600 10, 551,900 Comparatve Income Statement and Statement of Retained Eanings Eales revenue tal on scount) Cost ofaoods sol S10, 177,200 5,611,800 4, 555,500 2,340,200 1,725,400 300,300 1,425, 100 $9,613,900 5.233,700 4,315, 200 2,634,100 1,631, 100 303,800 1,372,500 411,750 Operatina expans Net operating income Interest expanse Income taxes (30% ) 5997,5 5950,75 Ddends pld Preerred dmidend: Common dividsnds otal dmdends pad 23.450 23.450 retaina 534,770 3,650,800 3,142,300 Retained earnings, beginning ofyear Retsined earnings, end af year $4, 195,37 3,680,500 Calculate the earnings per share taverage of 418,000 shares outstanding tor the year) tor 2015. (Round nswer to 2 decrna, place. e.g. 2.55.) Earning per share Calculate the pric earnings ratio (Mariet price of S45 at year-end) for 2016. (Round answer to 2 decimal places, e.g. 2.55.j