Exercise 11-11

The following financial information is available for Flintlock Corporation.

(in millions)

2017

2016

Average common stockholders' equity$2,532$2,591Dividends declared for common stockholders298611Dividends declared for preferred stockholders4040Net income504555

Calculate the payout ratio and return on common stockholders' equity ratio for 2017 and 2016.(Round answers to 1 decimal place, e.g. 12.5%)

2017

2016

Payout ratio

%

%Return on common stockholders' equity

%

%