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The following information is provided for Indy Inc. Total common stockholders' equity on Dec. 31, 2020 $302,000 Total common stockholders' equity on Dec. 31, 2019
The following information is provided for Indy Inc. Total common stockholders' equity on Dec. 31, 2020 $302,000 Total common stockholders' equity on Dec. 31, 2019 $288,000 Sales, 2020 $165,000 Total assets $605,000 Common shares outstanding, 2020 50,000 Dividends declared and paid, 2020 $6,000 Market price per share, Dec. 31, 2020 $21 If the payout ratio is 0.20, what is the return on equity? OA) 0.10 B) 0.09 C) 0.08 OD) 0.07
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