Need help with the payout ratio please!

The stockholders equity accounts of Culver Corporation on January 1, 2022, were as follows.

Preferred Stock (7%, $100 par noncumulative, 8,000 shares authorized)		$480,000
Common Stock ($4 stated value, 480,000 shares authorized)		1,600,000
Paid-in Capital in Excess of Par ValuePreferred Stock		24,000
Paid-in Capital in Excess of Stated ValueCommon Stock		768,000
Retained Earnings		1,100,800
Treasury Stock (8,000 common shares)		64,000

During 2022, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb.	1		Issued 8,000 shares of common stock for $48,000.
Mar.	20		Purchased 1,600 additional shares of common treasury stock at $7 per share.
Oct.	1		Declared a 7% cash dividend on preferred stock, payable November 1.
Nov.	1		Paid the dividend declared on October 1.
Dec.	1		Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.
Dec.	31		Determined that net income for the year was $450,000. Paid the dividend declared on December 1.

(d) Your answer is partially correct. 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 answers to 2 decimal places, e.g 17.50%.) Payout ratio % Earnings per share $ 1.05 Return on common stockholders' equity 11.8 %