The following information pertains to Pina Colada Company. Assume that all balance sheet amounts represent average balance figures. Total assets $385000 Stockholders' equity-common 265000 Total stockholders' equity 264000 Sales revenue 99000 Net income 21700 Number of shares of common stock 7500 Common dividends Preferred dividends What is Pina Colada's payout ratio? a. 40%. b. 26.73%. c. 20%. d. 12%. 5800 7500

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...
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Need correct answer general accounting question

The following information pertains to Pina Colada
Company. Assume that all balance sheet amounts
represent average balance figures.
Total assets
$385000
Stockholders' equity-common
265000
Total stockholders' equity
264000
Sales revenue
99000
Net income
21700
Number of shares of common stock 7500
Common dividends
Preferred dividends
What is Pina Colada's payout ratio?
a. 40%.
b. 26.73%.
c. 20%.
d. 12%.
5800
7500
Transcribed Image Text:The following information pertains to Pina Colada Company. Assume that all balance sheet amounts represent average balance figures. Total assets $385000 Stockholders' equity-common 265000 Total stockholders' equity 264000 Sales revenue 99000 Net income 21700 Number of shares of common stock 7500 Common dividends Preferred dividends What is Pina Colada's payout ratio? a. 40%. b. 26.73%. c. 20%. d. 12%. 5800 7500
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