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I Just need Part D answered (Payout Ratio & Return on Common Stockholders' Equity). Problem 11-8A (Part Level Submission) On January 1, 2017, Novak Corp.

I Just need Part D answered (Payout Ratio & Return on Common Stockholders' Equity).

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Problem 11-8A (Part Level Submission) On January 1, 2017, Novak Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 87,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $870,000 483,500 690,000 During the year, the following transactions occurred. Jan. 15 Feb. 15 Apr. 15 May 15 Dec. 1 Dec. 31 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15, Paid the dividend declared in January. Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share. Issued the shares for the stock dividend. Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2018. Determined that net income for the year was $387,000. (a) Your answer is correct. Journalize the transactions. (Include entries to close net income and dividends to retained Earnings.) (Record entries in the order displayed in the problem statement. Credit manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 15 Cash Dividends 34,800 Dividends Payable 34,800 Feb. 15 Dividends Payable 34,800 TCash 34,800 Apr. 15 - Stock Dividends Common Stock Dividends Distributable 87,000 > Paid-in Capital in Excess of Par Value-Common St 52,200 TMay 15 Common Stock Dividends Distributable Common Stock 87,000 Dec. 1 Tcash Dividends 47,850 4,850 i JU Dividends Payable 4 47,850 7,850 Dec. 31 Income Summary 387,000 Retained Earnings 387,000 (To close net income) Dec. 31 V Retained Earnings 9200 Stock Dividends 139200 (To close stock dividends) Dec. 31 | Retained Earnings 2650 Cash Dividends 82650 (To close cash dividends) Click if you would like to Show Work for this question: Open Show Work (d) Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal place, e.g. 12.5%.) Payout ratio Return on common stockholders' equity

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