Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help. The financial statements of Rogers Company include the following data: 2019 Sales $245,000 Cost of Goods Sold 98,000 Operating Expenses 73,500 Net

image text in transcribedimage text in transcribed

I need help.

image text in transcribedimage text in transcribedimage text in transcribed
The financial statements of Rogers Company include the following data: 2019 Sales $245,000 Cost of Goods Sold 98,000 Operating Expenses 73,500 Net Cash Provided from Operating Activities 61,000 Net Income 73,500 Dividends 8,000 Earnings per Share 0.35V Balance Sheet December 31 Assets Dec 31, 2019 Dec 31, 2018 Cash $158,700 $126,500 Accounts Receivable, net 42,900 37,300 Inventory 98,400 79,600 Total Current Assets 300,000 243,400 Plant Assets, net 148,000 128,000 Total Assets $448,000 $371,400 Liabilities and Stockholders' Equity Current Liabilities $33,500 $36,400 10% Bonds Payable 51,000 61,000 Total Liabilities 84,500 97,400 Common Stock, $1 par 222,000 198,000 Retained Earnings 141,500 76,000 Total Stockholders' Equity 363,500 274,000 Total Liabilities and Stockholders' Equity $448,000 $371,400Required: Compute the payout ratio for 2019. Round your answer to the nearest percentage. (If necessary, consult a list of formulas.) Payout ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and Managerial Accounting

Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson

9th edition

1439037809, 978-1439037805

More Books

Students also viewed these Accounting questions