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The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. $246,000 1,103,333 Preferred Stock (8%, $100 par noncumulative, 4.100 shares authorized)
The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. $246,000 1,103,333 Preferred Stock (8%, $100 par noncumulative, 4.100 shares authorized) Common Stock ($4 stated value, 331,000 shares authorized) Paid-in Capital in Excess of Par Value --Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock 12.300 529,600 Retained Earnings 689.000 Treasury Stock (4,100 common shares) 32,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct 1 Issued 5,020 shares of common stock for $35,140. Purchased 1,800 additional shares of common treasury stock at $7 per share. Declared a 8% 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 Nov. 1 Dec 1 Dec. 31 Determined that net income for the year was $275,600. Paid the dividend declared on December 1. Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, e.g. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio % Earnings per share $ Return on common stockholders' equity %
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