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Question 17 (1 point) Please complete the following income statement of XYZ Corp. Then use the data to answer this and the next 2
Question 17 (1 point) Please complete the following income statement of XYZ Corp. Then use the data to answer this and the next 2 questions. First, what is the firm's net income? Sales Less: Cost of goods sold (65% of sales) Gross profit Less: Operating expenses (15% of sales) Earnings before interest & taxes (EBIT) Less: Interest expenses Earnings before taxes (EBT) $10,000,000 110,000 Less: Taxes (30%) Net income (NI) Dividends $950,000 Dividend payout ratio: DPO Retained earnings 1) $1,890,000 (2) $1,323,000 3) $373,000 4) $950,000 5) None of the above Question 18 (1 point) What is the dividend payout ratio? 1) 71.81% 2) 28.19% 3) 39.26% 4) None of the above
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