The following information pertains to Novak Company. Assume that all balance sheet amounts represent average balance figures.
|
Total assets
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$415000
|
|
Stockholders' equity-common
|
295000
|
|
Total stockholders' equity
|
260000
|
|
Sales revenue
|
120000
|
|
Net income
|
22300
|
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Number of shares of common stock
|
5500
|
|
Common dividends
|
6400
|
|
Preferred dividends
|
7100
|
What is Novak's payout ratio?
28.70%.
14%.
42%.
22%.