Bonita Industries had the following information in its financial statements for the years ended 2020 and 2021: Cash dividends for the year 2021 $ 9600 Net income for the year ended 2021 97700 Market price of stock, 12/31/20 9 Market price of stock, 12/31/21 11 Common stockholders’ equity, 12/31/20 1001000 Common stockholders’ equity, 12/31/21 1192000 Outstanding shares, 12/31/21 100300 Preferred dividends for the year ended 2021 14300

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bonita Industries had the following information in its financial statements for the years ended 2020 and 2021:

Cash dividends for the year 2021

$ 9600

Net income for the year ended 2021

97700

Market price of stock, 12/31/20

9

Market price of stock, 12/31/21

11

Common stockholders’ equity, 12/31/20

1001000

Common stockholders’ equity, 12/31/21

1192000

Outstanding shares, 12/31/21

100300

Preferred dividends for the year ended 2021

14300


What is the payout ratio for Bonita Industries for the year ended 2021?

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