Cornerstone Exercise 13-52 (Algorithmic) Shareholder Ratios The following data came from the financial statements of Ryerson Corp. for 2018 and 2017. 2018 2017 Net income $110,000 $123,000 Cash dividends paid on common shares $40,000 $38,000 Market price per share of common share at the end of the year $16.00 $13.00 Common shares outstanding 140,000 140,000 Required: Calculate Ryerson's dividend payout ratio for 2018 (in percentage terms, rounded to two decimal places). X % Feedback Check My Work Dividend payout calculates the proportion of dividends to Net income. Learning Objective 4