Please give me answer Accounting question Guo Company has owners' equity of $357,200 and netincome of $61,590. It has a payout ratio of 30% and areturn on assets of 10%. How much did Guo pay in cashdividends, and what were its average assets? (Roundanswers to 0 decimal places, e.g. 125.)

Step 1: Define Dividends and Return on AssetsIn the context of accounting, the return on assets…

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 $357,200 and net income of $61,590. It has a payout ratio of 30% and a return on assets of 10%. How much did Guo pay in cash dividends, and what were its average assets? (Round answers to 0 decimal places, e.g. 125.)