The stockholders' equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 14,000 shares authorized) Common Stock ($4 stated value, 840,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (14,000 common shares) $840,000 2,800,000 42,000 1,344,000 1,926,400 112,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. Issued 14,000 shares of common stock for $84,000. Purchased 2,800 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Determined that net income for the year was $785,000. Paid the dividend declared on December 1. Dec. 1 Dec. 31 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 44.4 % Earnings per share ta 1.05 Return on common stockholders' equity 11.8(wrong) % e Textbook and Media List of Accounts