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Chen Corporation has owners' equity of $425,000 and net income of $95,000. It has a payout ratio of 30% and a return on assets ratio of 20%. How much did Chen pay in cash dividends, and what was its average assets?

Chen Corporation has owners' equity of $425,000 and net income of $95,000. It has a payout ratio of 30% and a return on assets ratio of 20%. How much did Chen pay in cash dividends, and what was its average assets?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 7GI
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Chen Corporation has owners' equity of $425,000 and net income of $95,000. It has a payout ratio of 30% and a return on assets ratio of 20%. How much did Chen pay in cash dividends, and what was its average assets?
Transcribed Image Text:Chen Corporation has owners' equity of $425,000 and net income of $95,000. It has a payout ratio of 30% and a return on assets ratio of 20%. How much did Chen pay in cash dividends, and what was its average assets?
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