The stockholders' equity accounts of Sarasota Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 3,000 shares authorized) $180,000 Common Stock ($4 stated value, 180,000 shares authorized) 600,000 Paid-in Capital in Excess of Par-Preferred Stock 9,000 Paid-in Capital in Excess of Stated Value-Common Stock 288,000 Retained Earnings 412,800 Treasury Stock (3,000 common shares) 24,000 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 3,000 shares of common stock for $18,000. Mar. 20 Purchased 600 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 $170,000: Paid the dividend declared on December 1 Equity ital Stock stock tal Stock Paid-in Capital SARASOTA CORP. Partial Balance Sheet December 31, 2025 180000 612000 pital in Excess of Par-Preferred Stock 9000 pital in Excess of Stated Value-Common Stock 294000 tional Paid-in Capital in Capital mings in Capital and Retained Earnings Treasury Stock cholders' Equity 792000 303000 1095000 495500 1590500 28200 1562300 Stockholders' Equity Paid-in Capital Capital Stock SARASOTA CORP. Partial Balance Sheet December 31, 2025 Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Total Additional Paid-in Capital Total Paid-in Capital tetained Earnings Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity 180000 612000 9000 294000 1C 15 282 15 (d) Your answer is partially correct. 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 for per unit and percentage, eg. 17.50 or 17.50%) Payout ratio Earnings per share 43.94 % 2.71 Return on common stockholders' equity 30.20 %