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The following information pertains to Splish Company. Assume that all balance sheet amounts represent average balance figures. Total assets $410000 Stockholders' equity-common 290000 Total stockholders'

The following information pertains to Splish Company. Assume that all balance sheet amounts represent average balance figures.

Total assets

$410000

Stockholders' equity-common

290000

Total stockholders' equity

262000

Sales revenue

105000

Net income

22200

Number of shares of common stock

8000

Common dividends

6300

Preferred dividends

8300

What is Splish's payout ratio?

28.38%.

22%.

42%.

13%.

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