Dividend Payout Ratio Smith & Sons, Inc, disclosed the following information in a recent annual report: 2015 2016 Net Income Preferred stock dividends Average common stockholders' equity 200,000 Dividend per common share Earnings per share Market price per common share, year-end $35,000 $55,000 3,000 1,500,000 1.20 2.05 21.00 3,000 1.20 1.90 19.50 Calculate the dividend payout for Smith & Sons for 2015 and 2016. Round answers to one decimal place. (Ex. 0.2345 23.5%) 2015 3 X 2016 3.7 %