Find the payout ratio

QUALITY DEPARTMENT STORE INC Condensed Balance Sheets QUALITY DEPARTMENT STORE INC Condensed Income Statements For the Years Ended December 31 2013 2012 2012 Sales revenue 945,000 Sales returns and allowances $2,195,000 $1,960,000 123,000 2,097,000 1,837,000 1,281,000 1,140,000 816,000 697,000 253,000 211,500 108,500 320,000 0 Current assets Plant assets (net) Intangible assets 1,020,000 800,000 15,000 98,000 632,500 17,500 $1,835,000 1,595,000Gross profit Net sales Cost of goods sold Total assets Liabilities Current liabilities Long-term liabilities Selling expenses 344,500 303,000 487,500 104,000 357,000 497,000 800,000 Total operating expenses Income from operations Other revenues and gains 459,000 377,000 11,000 Total liabilities 832,000 Stockholders' Equity Common stock, $1 par Retained earnings Interest and dividends 9,000 275,400 270,000 Other expenses and losses 727,600 40,500 347,500 168,200 139,000 $263,800 208,500 36,000 432,000 525,000 Interest expense Total stockholders' equity Total liabilities and Income before income taxes Income tax expense 1,003,000 795,000 stockholders' equity $1,835,000 $1,595,000Net income