Haymark Products Company has owners' equity of ($ 400,000) and net income of ($ 50,000). It has
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Haymark Products Company has owners' equity of \(\$ 400,000\) and net income of \(\$ 50,000\). It has a payout ratio of \(20 \%\) and a rate of return on assets of \(16 \%\). How much did Haymark Products pay in cash dividends, and what were its average assets?
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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