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On January 1, 2020, Agassi Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000 Paid-in Capital

On January 1, 2020, Agassi Corporation had the following stockholders equity accounts.

Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000
Paid-in Capital in Excess of ParCommon Stock 495,000
Retained Earnings 635,000

During 2020, 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 $13 per share.
May 15 Reacquired 2,200 common shares at a market price of $15 per share.
Nov. 15 Reissued 1,100 shares held in treasury at a price of $19 per share.
Dec. 31 Determined that net income for the year was $360,000.

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Determine the ending balances for Paid-in Capital, Retained Earnings, and Stockholders' Equity. Ending balances Paid-in Capital $ 1,064,400 Retained Earnings $ 877,500 Stockholders' Equity $ 1,925,400 e Textbook and Media List of Accounts Attempts: 1 of 1 used (b) Calculate the payout ratio and the return on common stockholders' equity. (Round answers to 2 decimal places, e.g. 52.75%.) Payout ratio 32.64 % Return on common stock equity ratio 20.25 %

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