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Kenneth Clark, president of Clark Corporation, believes that it is a good practice for a...

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Accounting

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Kenneth Clark, president of Clark 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 $660,000, and the corporation paid $132,000 in dividends, This year, due to some unusual circumstances, the corporation had income of $1,510,000. Hans expects next year's net income to be about $760,000 What was Clark Corporation's payout ratio last year? If it is to maintain the same payout ratio, what amount of dividends would it pay this year? Payout ratio-last year % Dividends paid this year

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