In a recent year Cheyenne Corp. had net income of $161000, interest expense of $31900, and income tax expense of $41500. What was Cheyenne Corp.s times interest earned (rounded) for the year?

• 6.05
• 6.35
• 5.05
• 7.35

The following information pertains to Splish Company. Assume that all balance sheet amounts represent average balance figures.

Total assets	$410000
Stockholders' equity-common	290000
Total stockholders' equity	262000
Sales revenue	105000
Net income	22200
Number of shares of common stock	8000
Common dividends	6300
Preferred dividends	8300

What is Splish's payout ratio?

42%.

14%.

9%.

10%.

5%.