On January 1, 2017, Agassi Corporation had the following stockholders' equity accounts. Common Stock ($10par value,50,000shares issued
Question:
On January 1, 2017, Agassi Corporation had the following stockholders' equity accounts.
Common Stock ($10par value,50,000shares issued and outstanding)$500,000Paid-in Capital in Excess of ParCommon Stock515,000Retained Earnings603,000
During 2017, the following transactions occurred.
Jan. 15Declared and paid a $1.05cash dividend per share to stockholders.Apr. 15Declared and paid a 10% stock dividend. The market price of the stock was $13per share.May 15Reacquired2,200common shares at a market price of $16per share.Nov. 15Reissued1,100shares held in treasury at a price of $19per share.Dec. 31Determined that net income for the year was $374,000.
Calculate the payout ratio and the return on common stockholders' equity.(Round answers to 1 decimal place, e.g. 52.5%.)
Payout ratio %
Return on common stock equity ratio