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The following information pertains to Sunland Company. Assume that all balance sheet amounts represent average balance figures. Total assets $355000 Stockholders' equity-common 235000 Total stockholders'

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

Total assets

$355000

Stockholders' equity-common

235000

Total stockholders' equity

294000

Sales revenue

97000

Net income

21100

Number of shares of common stock

6000

Common dividends

5200

Preferred dividends

8500

What is Sunland's payout ratio?

38%.

10%.

24.64%.

18%.

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