The stockholders' equity accounts of Indigo Corporation on January 1, 2022, were as follows. Preferred Stock (7 %, $100 par noncumulative. 10,000 shares authorized) Common Stock ($4 stated value, 600,000 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 (10,000 common shares) $600,000 2,000,000 30,000 960,000 1,376,000 80,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 10,000 shares of common stock for $60,000. Mar. 20 Purchased 2,000 additional shares of common treasury stock at $7 per share. Oct. 1 Nov. 1 Dec. 1 Dec. 31 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 $550,000. Paid the dividend declared on December 1. 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, eg 17.50%) Payout ratio Earnings per share 8 Return on common stockholders' equity E 52.91 % 1.02 %