Homework 2 The San Pedro Products, Inc. 2018 and 2017 comparative income statement is below. In addition selected information from 2016 is also given just below the comparative income statement (because you will need some of it). San Antonio Products, Inc. Comparative Income Statement For the Years Ended December 31, 2018 and 2017 2018 2017 2016 Net Sales 187,000 161,000 Cost of Goods Sold 93,500 90,000 Selling and General Expenses 47,500 41,000 Interest Expense 12,000 12,500 Income Tax Expense 11,000 8,500 Net Income 23,000 9,000 Additional Information: Total Assets 209,000 184,000 180,000 Common Stockholders Equity 95,000 83,500 78,000 Common Stock Dividends 14,000 10,000 0 Preferred Stock Dividends 3,500 3,500 0 Common Stock Shares Outstanding During Year 30,000 30,000 10,000

1. Calculate the 2018 dividend payout on common stock. What is the formula?