Stockholder Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Statements of Income (in thousands except per share amounts) 2026 2025 2024 Net sales $7,245,088 $6,944,296 $6,149,218 Cost of goods sold (5,286,253) (4,953,556) (4,355,675) Gross margin $1,958,835 $1,990,740 $1,793,543 General and administrative expenses (1,259,896) (1,202,042) (1,080,843) Special and nonrecurring items 2,617 0 0 Income from operations $701,556 $788,698 $712,700 Interest expense (63,685) (62,398) (63,927) Other income 7,308 10,080 11,529 Gain on sale of investments 0 9,117 0 Income before income taxes $645,179 $745,497 $660,302 Provision for income taxes 254,000 290,000 257,000 Net income $391,179 $455,497 $403,302 Steele Inc. Consolidated Balance Sheet (in thousands) Assets Dec. 31, 2026 Dec. 31, 2025 Current assets: Cash and equivalents $320,558 $41,235 Accounts receivable 1,056,911 837,377 Inventories 733,700 803,707 Other 109,456 101,811 Total current assets $2,220,625 $1,784,130 Property and equipment, net 1,666,588 1,813,948 Other assets 247,892 248,372 Total assets $4,135,105 $3,846,450 Liabilities and Stockholders' Equity Current liabilities Accounts payable $250,363 $309,092 Accrued expenses 347,892 274,220 Other current liabilities 15,700 0 Income taxes 93,489 137,466 Total current liabilities $707,444 $720,778 Long-term debt $650,000 $541,639 Deferred income taxes 275,101 274,844 Other long-term liabilities 61,267 41,572 Total liabilities $1,693,812 $1,578,833 Stockholders' equity: Preferred stock $100,000 $100,000 Common stock 89,727 89,727 Additional paid-in-capital-common stock 128,906 127,776 Retained earnings 2,397,112 2,136,794 $2,715,745 $2,454,297 Less: Treasury stock, at cost (274,452) (186,680) Total stockholders' equity $2,441,293 $2,267,617 Total liabilities and stockholders' equity $4,135,105 $3,846,450 Use the information provided above and below to respond to the following requirements. Year ended December 31 Item 2026 2025 Average number of common shares outstanding (thousands) 365,802 364,398 Preferred dividends (thousands) $24,000 $24,000 Dividends per common share $0.36 $1.54 Common Dividends (thousands) 130,861.00 561,172.30 Common stock repurchases 0 0 Market price per share: High $83.25 $79.10 Low 63.25 59.00 Close 78.42 66.36 At January 1, 2025, total stockholders' equity was $2,083,122 and there was no preferred stock. Required: 1. Compute the earnings per share, return on common equity, dividend yield, and dividend payout (in percentage terms, rounded to two decimal places except for EPS, which should be rounded to nearest cent) for 2025 and 2026.