On January 1, 2022, Bramble Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 77,000 shares issued and outstanding) $770,000 Paid-in Capital in Excess of Par Value 492,000 Retained Earnings 626,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 31 Determined that net income for the year was $374,000. Date Account Titles and Explanation Debit Credit Jan. 15 - 46200 Dividends Payable 46200 Feb. 15 - Dividends Payable 46200 Cash C D 46200 Apr. 15 - Stock Dividends 115500 Common Stock Dividends Distributable 77000 Paid-in Capital in Excess of Par Value-Common Stock 38500 May 15 - Common Stock Dividends Distributable 77000 Common Stock 77000 Dec. 1 4 Cash Dividends 50820 Dividends Payable 50820 Dec. 31 Income Summary 374,000 Retained Earnings 374,000 (To close net income) Dec. 31 4 Retained Earnings Stock Dividends (To close stock dividends) Dec. 31 - Cash Dividends 97020 (To close cash dividends) Common Stock Retained Earnings Paid-in Capital in Excess of Par Value Cash Dividends Common Stock Dividends Distributable Stock Dividends BRAMBLE CORP. Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Common Stock Common Stock Paid-in Capital Total Paid-in Capital Retained Earnings Total Stockholders' Equity e Textbook and Media List of Accounts * Your answer is incorrect. Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal place, e.g. 12.5%.) Payout ratio Return on common stockholders' equity