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Guo Company has owners' equity of $358,600 and net income of $87,024. It has a payout ratio of 24% and a return on assets ratio of 16%. How much did Guo pay in cash dividends, and what was its average assets?

Guo Company has owners' equity of $358,600 and net income of $87,024. It has a payout ratio of 24% and a return on assets ratio of 16%. How much did Guo pay in cash dividends, and what was its average assets?

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 6CP: The average liabilities, average stockholders' equity, and average total assets are as follows: 1....
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Guo Company has owners' equity of $358,600 and net income of $87,024. It has a payout ratio of 24% and a return on assets ratio of 16%. How much did Guo pay in cash dividends, and what was its average assets?
Transcribed Image Text:Guo Company has owners' equity of $358,600 and net income of $87,024. It has a payout ratio of 24% and a return on assets ratio of 16%. How much did Guo pay in cash dividends, and what was its average assets?
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