Sheridan Company reported the following balances at December 31, 2019: common stock $391,000, paid-in capital in excess of par value-common stock $109,000, and retained earnings $242,000. During 2020, the following transactions affected stockholders' equity. 1. 2. 3. 4. Issued preferred stock with a par value of $122,000 for $204,000. Purchased treasury stock (common) for $39,000. Earned net income of $143,500. Declared and paid cash dividends of $51,000. Prepare the stockholders' equity section of Sheridan Company's December 31, 2020, balance sheet. Sheridan Company Balance Sheet (Partial) Suppose the following financial information is available for Walgreen Company. 2020 $12,300.00 2019 $10,800.00 (in millions) Average common stockholders' equity Dividends declared for common stockholders Dividends declared for preferred stockholders Net income 405.90 328.32 1,845.00 1,728.00 Calculate the payout ratio and return on common stockholders' equity for 2020 and 2019. (Round answers to 1 decimal place, e.g. 12.5%.) 2020 2019 Payout ratio Return on common stockholders' equity Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT