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The stockholders' equity accounts of Flounder Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative. 7.500 shares authorized) Common Stock

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The stockholders' equity accounts of Flounder Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative. 7.500 shares authorized) Common Stock ($4 stated value. 450,000 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 (7,500 common shares) $450,000 1.500,000 22,500 720,000 1,032,000 60,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Issued 7,500 shares of common stock for $45,000 Purchased 1,500 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, 2 Determined that net income for the year was $420,000. Paid the dividend declared on December 1. Nov. 1 Dec 1 Dec. 31 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 answers to 2 decimal places, as. 15.25.) Payout ratio Earnings per share Return on common stockholders' equity eTextbook and Media List of Accounts

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