Solved: Assume that all balance sheet amounts represent average, Accounting Basics

Assume that all balance sheet amounts represent average

Question - The following information pertains to Pina Colada Company. Assume that all balance sheet amounts represent average balance figures.

Total assets $385000

Stockholders' equity-common 265000

Total stockholders' equity 264000

Sales revenue 99000

Net income 21700

Number of shares of common stock 7500

Common dividends 5800

Preferred dividends 7500

What is Pina Colada's payout ratio?

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Accounting Basics: Assume that all balance sheet amounts represent average

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