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Question
The following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures.
Total assets $300,000
Stockholders’ equity—common 160,000
Total stockholders’ equity 200,000
Sales 100,000
Net income 20,000
Number of shares of common stock 6,000
Common stock dividends 6,000
Preferred stock dividends 4,000
What is the payout ratio for Benedict?
a. 50%
b. 30%
c. 20%
d. 6%
Answer
This answer is hidden. It contains 1 characters.
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