Computing the Dividend Yield and the Dividend Payout Ratio

The income statement, statement of retained earnings, and balance sheet for Jeanette Company are as follows.

Jeanette Company Income Statement For the Year Ended December 31, 20X2
	Amount		Percent
Net sales	$8,281,989		100.0%
Less: Cost of goods sold	(5,383,293)		65.0
Gross margin	$2,898,696		35.0
Less: Operating expenses	(1,323,368)		16.0
Operating income	$1,575,328		19.0
Less: Interest expense	(50,000)		0.6
Income before taxes	$1,525,328		18.4
Less: Income taxes (40%)*	(610,131)		7.4
Net income	$915,197		11.0
* Includes both state and federal taxes.

Jeanette Company Statement of Retained Earnings For the Year Ended December 31, 20X2
Balance, beginning of period	$1,979,155
Net income	915,197
Total	$2,894,352
Preferred dividends	(80,000)
Dividends to common stockholders	(201,887)
Balance, end of period	$2,612,465

Jeanette Company Comparative Balance Sheets At December 31, 20X1 and 20X2
	20X1		20X2
Assets
Current assets:
Cash	$2,875,000		$2,580,000
Marketable securities	800,000		700,000
Accounts receivable (net)	939,776		690,000
Inventories	490,000		260,000
Other	93,000		74,261
Total current assets	$5,197,776		$4,304,261
Property and equipment:
Land	$1,575,000		$1,067,315
Building and equipment (net)	1,348,800		1,150,000
Total long-term assets	$2,923,800		$2,217,315
Total assets	$8,121,576		$6,521,576
Liabilities and Stockholders' Equity
Current liabilities:
Notes payable, short term	$1,170,127		$ 543,641
Accounts payable	298,484		101,500
Current maturity of long-term debt	3,000		2,000
Accrued payables	200,000		57,780
Total current liabilities	$1,671,611		$ 704,921
Long-term liabilities:
Bonds payable, 10%	500,000		500,000
Total liabilities	$2,171,611		$1,204,921
Stockholders' equity:
Preferred stock, $25 par, 8%	$1,000,000		$1,000,000
Common stock, $1.50 par	337,500		337,500
Additional paid-in capital*	2,000,000		2,000,000
Retained earnings	2,612,465		1,979,155
Total stockholders' equity	$5,949,965		$5,316,655
Total liabilities and stockholders' equity	$8,121,576		$6,521,576
* For common stock only.

Also, assume that the market price per common share is $8.30.

Required:

1. Compute the dividends per share. Round the answer to four decimal places. $fill in the blank 1 per share

2. Compute the dividend yield. Use the part 1 final answer in these calculations and round the final answer to two decimal places. fill in the blank 2%

3. Compute the dividend payout ratio. Round the answer to two decimal places. fill in the blank 3%