Solve these accounting problem not use ai Guo Company has owners' equity of $350,400 and a net incomeof $106,920. It has a payout ratio of 26% and a return on assetsof 12%. How much did Guo pay in cash dividends, and what wereits average assets?

Step 1: Define Dividend PayoutDividend payout is the ratio of dividends relative to the net income.…

Answered: Guo Company has owners' equity of…

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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Guo Company has owners' equity of $350,400 and a net income of $106,920. It has a payout ratio of 26% and a return on assets of 12%. How much did Guo pay in cash dividends, and what were its average assets?