Part C: Dividend Policy Use the information provided to discuss the dividend policy of the four listed firms over the past four years. Format Table Smith Company, Inc. 2018 2017 2016 2015 Dividend $2.00 $2.00 $2.00 $2.00 Net Income $3,978,000 $4,931,000 $5,220,000 $5,652,000 Competitor 1 Dividend $3.25 $0.75 $1.20 $1.00 Net Income $6,111,000 $5,408,000 $5,576,000 $5,456,000 Competitor 2 Dividend $2.50 $2.50 $2.00 $1.00 Net Income $5,547,000 $5,160,000 $4,823,000 $4,637,000 Competitor 3 Dividend $1.25 $0.55 $0.55 $0.55 Net Income $4,543,000 $3,786,000 $3,711,000 $3,657,000