Question - The following information pertains to Sunland Company. Assume that all balance sheet amounts represent average balance figures.
Total assets $355000
Stockholders' equity-common 235000
Total stockholders' equity 294000
Sales revenue 97000
Net income 21100
Number of shares of common stock 6000
Common dividends 5200
Preferred dividends 8500
What is Sunland's payout ratio?
38%.
10%.
24.64%.
18%.