Need help finding payout ratio, EPS, and return on common stockholders' equity
X] Your answer is incorrect. Try again. Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio 44.5|| % Earnings per share 1.16 Return on common stockholders' equity 11.7 The stockholders' equity accounts of Concord Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 7,000 shares authorized) Common Stock ($4 stated value, 420,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (7,000 common shares) $420,000 1,400,000 21,000 672,000 963,200 56,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 7,000 shares of common stock for $42,000. Purchased 1,400 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $392,000. Paid the dividend declared on December 1. Date Account Titles and Explanation Debit Credit Feb. 1 Cash 42,000 Common Stock 28,000 Paid-in Capital in Excess of Stated Value-Commor 14,000 Mar. 20 9 T - U 9 ,800 Treasury Stock Cash cash Dividends T Dividends Payable 9,800 T 1 29,400 L Oct. 1 U 29,400 Nov. 1 Dividends Payable 29,400 Cash Cash 29,400 29,400 Dec. 1 Cash Dividends 174,300 T 174,300 Dividends Payable [Income Summary T 392,000 Dec. 31 Income Summary 392,000 392,000 Retained Earnings (To record net income) Dec. 31 Retained Earnings [Retained Earnings Cash Dividends (To close cash dividends) 203,700 T T T 203,700 Dec. 31 Dividends Payable Payable L 174,30 Cash 74,300 (To record payment of cash dividends payable) DadILE UOL ulu 2CIUIUI LIIC DINIUUMIL Preferred Stock 1/1 Bal. A 420,000 12/31 Bal. 00 Sex Common Stock 1/1 Bal. $ 11,400,00 2/1 28,000 12/31 Bal. 4 1,428,00 Paid-in Capital in Excess of Par Value-Preferred Stock | 1/1 Bal. A 21,000 | 12/31 Bal. A 21,000 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal. A 672,000 2/1 14,000 ( 12/31 Bal. 4 686,000 Retained Earnings 12/31 1 || 1/1 Bal. 3,200 12/31 2,000 51,50 12/31 Bal. Cash Dividends | 10/ 1 203,7 3,700 29,400|| 12/31 1174,300 12/1 12/31 Bal. Treasury Stock 1/1 Bal. 3/20 56,000 19,800 65,800 12/31 Bal. CONCORD CORPORATION Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock 420,000 Common Stock | Total Capital Stock 11,848,00 Additional Paid-in Capital Paid-in Capital in Excess of Par Vi 21,000 Paid-in Capital in Excess of State 686,000 Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings 707,000 2,555,00 1,151,50 3,706,50 65,800 13,640,70 Total Paid-in Capital and Retained Earnings Less 4. Treasury Stock Total Stockholders' Equity Cauity
