Solved: The following information pertains to novak company assume, Accounting Basics

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The following information pertains to novak company assume

The following information pertains to Novak Company. Assume that all balance sheet amounts represent average balance figures.

Total assets	$415000
Stockholders' equity-common	295000
Total stockholders' equity	260000
Sales revenue	120000
Net income	22300
Number of shares of common stock	5500
Common dividends	6400
Preferred dividends	7100

What is Novak's payout ratio?

28.70%.

14%.

42%.

22%.

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