The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,100 shares authorized) Common Stock ($5 stated value, 295,000 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 (4,100 common shares) $246,000 1,229,166 12,300 472,000 685,500 32,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Issued 4,750 shares of common stock for $28,500. Purchased 1,200 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 $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Determined that net income for the year was $276,500. Paid the dividend declared on December 1. Dec. 1 Dec. 31 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 0.8 % Earnings per share $ 1.05 Return on common stockholders' equity 10.9 %