Johnny Cash, Inc. paid $200,000 in dividends in 2019. In 2019, net income is $850,000. In 2018, Johnny Cash, Inc. reported net income of $500,000 and paid $100,000 in dividends. The 2019 payout ratio is? Select one: O a. 23.53% Ob. 20% O c. 22.22% O d. 425% Return on common stockholder's equity is calculated by: Select one: O a. Net income plus preferred stock dividend divided by average common stockholder's equity O b. Cash dividends on common stock divided by net income Oc. Net income minus preferred stock dividend divided by average common stockholder's equity O d. Net income divided by average total debt