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QUESTION
The following information pertains to Kingbird Company. Assume that all balance sheet amounts represent average balance figures.
The following information pertains to Kingbird Company. Assume that all balance sheet amounts represent average balance figures.
Total assets
$395000
Stockholders' equity-common
275000
Total stockholders' equity
255000
Sales revenue
93000
Net income
21900
Number of shares of common stock
8000
Common dividends
6000
Preferred dividends
8400
What is Kingbird's payout ratio?
