Graham Corporation reported net income of $400,000 during 2023. In the same year, the corporation paid dividends of $80,000 to common shareholders and $25,000 to preferred shareholders. The company's common stockholders' equity at the beginning and end of 2023 was $1,200,000 and $1,400,000, respectively. What was Graham Corporation's dividend payout ratio for 2023?

Graham Corporation reported net income of $400,000 during 2023. In the same year, the corporation paid dividends of $80,000 to common shareholders and $25,000 to preferred shareholders. The company's common stockholders' equity at the beginning and end of 2023 was $1,200,000 and $1,400,000, respectively. What was Graham Corporation's dividend payout ratio for 2023?

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

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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