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The stockholders' equity accounts of Sarasota Corp. on January 1, 2022, were as follows. $300,000 1,000,000 Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings 15,000 480,000 699,500 Treasury Stock (5,000 common shares) 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Issued 5,000 shares of common stock for $30,000. Purchased 1.000 additional shares of common treasury stock at $9 per share. Declared a 6% cash dividend on preferred stock, payable November 1. Pald the dividend declared on October 1 Declared a $0.75 per share cash dividend to common stockholders of record on December 15, payable December 31, Nov. 1 Dec. 1 2022 Dec 31 Paid the dividend declared on December 1 Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, es $2.66 and all other answers to 1 decimal place. 17.5%) Payout ratio 443 % Earnings per share 1.05 Return on common stockholders' equity 118 %6 The stockholders' equity accounts of Sarasota Corp. on January 1, 2022, were as follows. $300,000 1,000,000 Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings 15,000 480,000 699,500 Treasury Stock (5,000 common shares) 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Issued 5,000 shares of common stock for $30,000. Purchased 1.000 additional shares of common treasury stock at $9 per share. Declared a 6% cash dividend on preferred stock, payable November 1. Pald the dividend declared on October 1 Declared a $0.75 per share cash dividend to common stockholders of record on December 15, payable December 31, Nov. 1 Dec. 1 2022 Dec 31 Paid the dividend declared on December 1 Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, es $2.66 and all other answers to 1 decimal place. 17.5%) Payout ratio 443 % Earnings per share 1.05 Return on common stockholders' equity 118 %6

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