Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Swifty Corporation has 100,000 common shares and 10500, $1 preferred shares currently issued. During the year, the company paid and declared a 12% stock dividend
Swifty Corporation has 100,000 common shares and 10500, $1 preferred shares currently issued. During the year, the company paid and declared a 12% stock dividend when the market price of the common shares was $10. As well, the company paid the preferred dividend and paid $90000 in cash to the common shareholders. If Swifty earned $340000 during the year. Its payout ratio is O 23.78% O 39.47% 0 29.56% 264796
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started