eBook Show Me How Calculator Print Item 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 Gross margin Less: Operating expenses 65.0 35.0 16.0 Operating income (5,383,293) $2,898,696 (1,323,368) $1,575,328 (50,000) $1,525,328 (610,131) $915,197 Less: Interest expense Income before taxes Less: Income taxes (40%)* 0.6 18.4 Net income 11 Includes both state and federal taxes Jeanette Company Statement of Retained Earnings For the Year Ended December 31, 20x2 Balance beginning of period $1,979,155 915 197 eBook LUL LUI=&inprogres Show Me How Calculator Print item 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 Assets 20x2 Current assets: Cash Marketable securities Accounts receivable (net) Inventories Other $2,875,000 800,000 939,776 490,000 93,000 $5,197,776 $2,580,000 700,000 690,000 260,000 74,261 $4,304,261 Total current assets Check My Work eBook { Show Me How Calculator Print item Other 74,261 Total current assets Property and equipment: 93,000 $5,197,776 $4,304,261 Land Building and equipment (net) Total long-term assets Total assets $1,575,000 1,348,800 $2,923,800 $8,121,576 $1,067,315 1,150,000 $2,217,315 $6,521,576 Liabilities and Stockholders' Equity Current liabilities: Notes payable, short term Accounts payable Current maturity of long-term debt Accrued payables Total current liabilities Long-term liabilities: Bonds payable, 10% $1,170,127 298,484 3,000 200,000 $1,671,611 $ 543,641 _101,500 2,000 57,780 $ 704,921 500,000 500,000 $2,171,611 $1,204,921 Total liabilities Stockholders' equity: Preferred stock, $25 par, 8% Common stock, $1.50 par Additional paid-in capital $1,000,000 337,500 2,000,000 $1,000,000 337,500 2,000,000 Check My Work eBook Show Me How Calculator Print Item Total current liabilities $1,671,611 $ 704,921 Long-term liabilities: 500,000 500,000 $2,171,611 $1,204,921 Bonds payable, 10% Total liabilities Stockholders' equity: Preferred stock, $25 par, 8% Common stock, $1.50 par Additional paid-in capital Retained earnings Total stockholders' equity $1,000,000 337,500 2,000,000 2,612,465 $5,949,965 $8,121,576 $1,000,000 337,500 2,000,000 1,979,155 $5,316,655 $6,521,576 Total liabilities and stockholders' equity equity $8,121,576 For common stock only. Also, assume that the market price per common share is $8.20 ,20 Required: 1. Compute the dividends per share. Round the answer to four decimal places. per share 2. Compute the dividend yield. Use the part 1 final answer in these calculations and round the final answer to two decimal p 3. Compute the dividend payout ratio. Round the answer to two decimal places Check My Work
