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Will Company reports the following: 2009 2008 Retained Earnings $2,000,000 $ 1,300,000 Common Stock $ 500,000 $ 500,000 Paid-in Capital $3,000,000 $ 3,000,000 Net Income

Will Company reports the following: 2009 2008 Retained Earnings $2,000,000 $ 1,300,000 Common Stock $ 500,000 $ 500,000 Paid-in Capital $3,000,000 $ 3,000,000 Net Income for year $ 900,000 $ 400,000 Dividend payout ratio for 2008 was: A) 12% B) 18.7% C) 22.2% D) 27%

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