Hans Flint, president of Flint Corporation, believes that it is a good practice for a...
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Hans Flint, president of Flint Corporation, believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $690,000, and the corporation paid $124,200 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,540,000. Hans expects next year's net income to be about $790,000. What was Flint Corporation's payout ratio last year? If it is to maintain the same payout ratio, what amount of dividends would it pay this year? (Round onswers to 0 decimal ploces, eg. 125.) Payout ratio-last year Dividends paid this year
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