On January 1, 2017, Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value, 65,000 shares Paid-in Capital in Excess of Par-Common Stock Retained Earnings issued and outstanding) $650,000 482,000 637,000 During 2017, the following transactions occurred. Jan. 15 Declared and paid a $1.05 cash dividend per share to stockholders. Apr. 15 Declared and paid a 10% stock dividend. The market price of the stock was $14 per share. May 15 Reacquired 1,900 common shares at a market price of $15 per share. Nov. 15 Reissued 950 shares held in treasury at a price of $18 per share. Dec. 31 Determined that net income for the year was $371,000. transactions. (Include entries to close net income to Retained Earnings.) (Credit account tities are automatically indented when the amount is entered. Do not indent manually. Ir no entry is required, select "No Entry" for the account titles and enter o for the amounts. Date Account Titles and Explanation Debit for Contributed Capital, Retained Earnings, and Stockholders Equity Determine the ending balances Ending balances Contributed Capital Retained Earnings Stockholders' Equity s Calculate the payout ratio and the return on common stockholders' equity. (Round answers to 1 decimal place, eg, 52.5%.) Payout ratio Return on common stock equity ratio