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The following information pertains to Sheffield Company. Assume that all balance sheet amounts represent average balance figures. Total assets $375000 Stockholders' equity-common 255000 Total stockholders'

The following information pertains to Sheffield Company. Assume that all balance sheet amounts represent average balance figures. Total assets $375000 Stockholders' equity-common 255000 Total stockholders' equity 287000 Sales revenue 120000 Net income 21500 Number of shares of common stock 5000 Common dividends 5600 Preferred dividends 6800 What is Sheffield's payout ratio?

26.05%. 19%. 11%. 39%.

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