What is the payout ratio? 51.96 is incorrect here

The stockholders' equity accounts of Novak Corp. on January 1, 2025, were as follows. Preferred Stock (7%, $100 par noncumulative, 12.500 shares authorized) $750,000 Common Stock ($4 stated value. 750,000 shares authorized) 2,500,000 Paid-in Capital in Excess of Par-Preferred Stock 37,500 Paid-in Capital in Excess of Stated Value-Common Stock 1,200,000 Retained Earnings 1,720,000 Treasury Stock (12,500 common shares) 100,000 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 12,500 shares of common stock for $75,000. Mar. 20 Purchased 2,500 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 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Dec. 31 Determined that net income for the year was $700,000. Paid the dividend declared on December 1. (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, e.g. 17.50 or 17.50%.) Payout ratio 51.96 % Earnings per share Return on common stockholders' equity e Textbook and Media List of Accounts SA 1.05 11.74 %