Given the following financial statement information for the Kellogg Company. Calculate the payout ratio for FY2020. (Enter percentages as decimals and round to 4 decimals) $ in Millions Balance Sheet Cash FY2020 AR Inventories FY2019 435 397 1537 1576 1284 1226 226 232 $ in Millions Income Statement FY 2020 Net Sales 13,770 COGS 9,043 SGA 2,487 Depreciation 479 EBIT 1,761 Interest expense 249 EBT 1,512 Taxes 323 Net Income 1,189 Dividends 782 Other CA Total Current Assets Net PPE 3482 3431 14514 14133 Total Assets 17996 17564 729 2471 727 2387 1664 Add to RE 407 4778 Notes Payable (Interest-bearing) Accounts Payable Other CL Total Current Liab. Long-term debt Total liabilities Common Stock Accum RE Total Equity Total Liabilities and Equity 2038 5238 9494 14732 Price 63.86 Shares Outstanding 343,950,311 9934 14712 105 110 3,154 3264 2747 2852 17564 17996