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Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?

Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...
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Guo Company has an owner's equity of $397,600 and a net income of $136,608. Please solve these general accounting question

Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?
Transcribed Image Text:Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?
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