PLEASE: Calculate the Payout ratio.

\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ CONESTOGA CONSULTING INC. } \\ \hline \multicolumn{4}{|c|}{ Balance Sheet } \\ \hline \multicolumn{4}{|c|}{ December 31, 2023} \\ \hline Assets & & Liabilities \& Shareholders' Equity & \\ \hline Cash & $50,000 & Accounts payable & $2,200,000 \\ \hline Marketable securities & 80,000 & Accrued expenses & 150,000 \\ \hline Accounts receivable & 3,000,000 & Notes payable (current) & 400,000 \\ \hline Inventory & 1,000,000 & Bonds (10\%) & 2,500,000 \\ \hline Property, Plant, \& Equipment, net & 4.000 .000 & Common shares (1.7 mill shares) & 1,700,000 \\ \hline & & Retained Earnings & 1,180,000 \\ \hline Total assets & 8.130,000 & Total Liabilities and Equity & 8.130,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ CONESTOGA CONSULTING INC. } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline \multicolumn{2}{|c|}{ December 31, 2023 } \\ \hline Sales (all on credit) & $7,000,000 \\ Variable costs (0,60) & 2,800,0004,200,000 \\ Contribution margin & 2,100,000 \\ Fixed costs* & 700,000 \\ Operating profit & 250,000 \\ Less: interest & 450,000 \\ Earnings before tax & 153,000 \\ Less: Taxes @ 34\% & 297,000 \\ Earnings after tax & 118,800 \\ Deduct: Dividends & 178,200 \\ Increased retained earnings & \\ \hline *Fixed costs include: & \\ \hline 1. Lease expense of $200,000 \\ 2. Amortization of $500,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Industry data } \\ \hline Profit margin & 5.75% \\ Return on assets & 6.90% \\ Return on equity & 9.20% \\ Receivables turnover & 4.35x \\ Capital asset turnover & 1.85x \\ Total asset turnover & 1.20x \\ Current ratio & 1.45x \\ Quick ratio & 1.10x \\ Debt-to-total assets & 25.05% \\ Interest coverage & 5.35x \\ \hline \end{tabular}