Sheffield Corporation has 100,000 common shares and 10100, $1 preferred shares currently issued. During the year, the company paid and declared a 10% stock dividend when the market price of the common shares was $6. As well, the company paid the preferred dividend and paid $71000 in cash to the common shareholders. If Sheffield earned $300000 during the year, its payout ratio is O 27.03%. O 37.37%. O 21.03%. 0 23.67% Save for Later Attempts: 0 of 1 used Submit Answer At January 1, 2021, Oriole Corporation had the following share capital: $3 Preferred shares, noncumulative, 500,000 shares authorized, 14600 shares issued $ 650000 Common shares, 1,000,000 shares authorized, 11000 shares issued 260000 $ 910000 On October 1, 2021, the company sold an additional 20000 common shares for proceeds of $ 280000. The corporation earned $ 164800 during the year. Assuming no dividends were declared or paid in 2021 to either preferred of common shareholders, earnings per share for 2021 would be (Round your answer to 2 decimal places.) O $6.73. $ 7.81. $ 10.30. O $ 7.56