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E11-12 Suppose the following financial information is available for Walgreen Company 2016 (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared

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E11-12 Suppose the following financial information is available for Walgreen Company 2016 (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 2017 $13,622.5 471 $11,986.5 394 0 2,157 2,006 Instructions Calculate the payout ratio and return on common stockholders' equity for 2017 and 2016. Comment on your findings

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