g. Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.)WIPER INC.Condensed Balance SheetsDecember 31, 2020, 2019, 2018(in millions) 202020192018Current assets$685 $917 $773 Other assets 2,417 1,924 1,723 Total assets$3,102 $2,841 $2,496 Current liabilities$581 $816 $714 Long-term liabilities 1,510 995 860 Stockholders’ equity 1,011 1,030 922 Total liabilities and stockholders' equity$3,102 $2,841 $2,496 WIPER INC.Selected Income Statement and Other DataFor the year Ended December 31, 2020 and 2019(in millions) 20202019Income statement data: Sales$3,054 $2,917 Operating income 300 314 Interest expense 88 69 Net income 203 198 Other data: Average number of common shares outstanding 41.7 47.1 Total dividends paid$54.0 $52.7

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Description: g. Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.)WIPER INC.Condensed Balance SheetsDecember 31, 2020, 2019, 2018(in millions) 202020192018Current assets$685 $917 $773 Other assets 2,417 1,924 1,723 Total ass

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Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.)

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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g. Calculate the dividend payout ratio for 2020. (Do not round intermediate calculations.)

WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
	2020	2019	2018
Current assets	$	685		$	917	$	773
Other assets		2,417			1,924		1,723
Total assets	$	3,102		$	2,841	$	2,496
Current liabilities	$	581		$	816	$	714
Long-term liabilities		1,510			995		860
Stockholders’ equity		1,011			1,030		922
Total liabilities and stockholders' equity	$	3,102		$	2,841	$	2,496

WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
	2020	2019
Income statement data:
Sales	$	3,054	$	2,917
Operating income		300		314
Interest expense		88		69
Net income		203		198
Other data:
Average number of common shares outstanding		41.7		47.1
Total dividends paid	$	54.0	$	52.7

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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