The stockholders equity accounts of Cheyenne Corp. on January 1, 2017, were as follows.

The stockholders' equity accounts of Cheyenne Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value-Common Stock 480,000 Retained Earnings 683,500 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Issued 5,000 shares of common stock for $35,000. Purchased 1,000 additional shares of common treasury stock at $8 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Paid the dividend declared on December 1. Dec. 1 Dec. 31 (a) Prepare a tabular summary that includes the January 1, 2017, balances. Do not include the beginning balance in Retained Earnings in the tabular summary. (b) Record the 2017 transactions in the tabular summary. (Round answers to o decimal places, e.g. 5,275. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities + Stockholders' Equity Paid-in-Capital Retained Earnings Common Stock PIC in Excess of Stated Value Com. PIC in Excess of Par Value Pref. Div. Pay. Treasury Stock Cash = + + + Pref. Stock + + Revenue Expense Dividend (a) Bal. S S $ $ $ $ $ $ $ (b) Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Include 2017 net income of $301,000 as an increase to the January 1, 2017, Retained Earnings. CHEYENNE CORP. Partial Balance Sheet SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to i decimal place. 17.5%.) Payout ratio % Earnings per share Return on common stockholders' equity %