the payout ratio is NOT 89.5% and the return on common stockholders' equity is NOT 90.7%

The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (8%, $100 par noncumulative, 4,300 shares authorized) $258.000 Common Stock ($3 stated value, 341,000 shares authorized) 852,500 Paid-in Capital in Excess of Par Value-Preferred Stock 12,900 Paid-in Capital in Excess of Stated Value-Common Stock 545,600 Retained Earnings 687,500 Treasury Stock (4,300 common shares) 34,400 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,030 shares of common stock for $30,180. Mar. 20 Purchased 1,700 additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31 Determined that net income for the year was $280,100. Paid the dividend declared on December 1. Your answer is partially correct. Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio % Earnings per share $ 0.92 Return on common stockholders' equity %