The stockholders' equity accounts of Pina Colada Corp. on January 1, 2022, were as follows. Preferred Stock (7 %, $100 par noncumulative, 13,500 shares authorized) $810,000 Common Stock ($4 stated value, 810,000 shares authorized) 2,700,000 Paid-in Capital in Excess of Par Value-Preferred Stock 40,500 Paid-in Capital in Excess of Stated Value-Common Stock 1,296,000 Retained Earnings 1,857,600 Treasury Stock (13,500 common shares) 108,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 13,500 shares of common stock for $81.000. Mar. 201 Purchased 2,700 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Dec. 1 Dec. 31 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 $756,000. Paid the dividend declared on December 1.. Date: Feb. 1 Account Titles and Explanation Debit Cash Common Stock Paid-in Capital in Excess of Par Value Common Stock Mar. 20 Treasury Stock Cash 81000 18900 Oct. 1 Cash Dividends 56700 Dividends Payable Nov. 1 v Dividends Payable 56700 Cash Dec. 1 Cash Dividends Dividends Pavable 342900 Credit 5400 2700 1890 5670 5670 342900 Dec. 1 Cash Dividends Dividends Payable Dec. 31 Dividends Payable Dec. 31 Cash (To record net income) Income Summary Retained Earnings (To close cash dividends) Dec. 31 Retained Earnings Cash Dividends (To record payment of cash dividends payable) eTeythook and Media 342900 342900 756000 3996000 342900 34290 75600 39960X Preferred Stock 1/1 Bal. 810000 12/31 Bal. 810000 Common Stock 1/1 Bal. 2700000 2/1 12/31 Bal. v Paid-in Capital in Excess of Par Value-Preferred Stock 54000 2754000 00000 Cash Dividends Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings 111 111 100 !!! 3/20 3/20 Cash Dividends Treasury Stock 18900 12/31 Bal. 126900 Stockholders' Equity PINA COLADA CORP. Partial Balance Sheet December 31, 2022 Preferred Stock Common Stock Total Capital Stock Paid-in Capital Paid-in Capital in Excess of Par Value Preferred Stock 810000 2754000 40500 Paid-in Capital in Excess of Par Value-Common Stock 1323000 Preferred Stock Common Stock Total Capital Stock Paid-in Capital Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Par Value-Common Stock Total Paid-in Capital Capital Stock Retained Earnings Total Capital Stock Less Treasury Stock 14 810000 2754000 40500 1323000 4 126 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, e.g. 15.25.) Payout ratio Earnings per share Return on common stockholders' equity