Selected Data for the Boat Rental Company Follow -What Was the Dividend Payout Ratio for the Prior Year

question 139

Multiple Choice

Selected data for the Boat Rental Company follow:
$\begin{array} {|l | r | r | } \hline & \text { Current Year } & \text { Prior Year } \\\hline \begin{array} { l } \text { Preferred Shares, 8\% Par } \\\text { Value } \$ 50\end{array} & \$ 250000 & \$ 250000 \\\hline \begin{array} { l } \text { Common Shares, Per Value } \\\$ 10\end{array} & \$ 500000 & \$ 500000 \\\hline \begin{array} { l } \text { Retained Earnings at End of } \\\text { Year }\end{array} & \$ 257000 & \$ 240000 \\\hline \begin{array} { l } \text { Net Income } \\\end{array}&\$ 102000 & \$ 90000\\\hline \begin{array} { l } \text { Dividends Paid on Preferred } \\\text { Shares }\end{array} &\$20000&\$20000 \\\hline \begin{array} { l } \text { Dividends Paid on Common } \\\text { Shares }\end{array} & \$ 55000 & \$50000 \\\hline \begin{array} { l } \text { Quoted Market Price per } \\\text { Common Share at Year End }\end{array} & \$ 25 & \$20 \\\hline\end{array}$

-What was the dividend payout ratio for the prior year?

• A) 55.6%.
• B) 71.4%.
• C) 114.3%.
• D) 140.0%.

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Definitions:

Right Information

refers to accurate, timely, and pertinent data required to make informed decisions.

Social Imperfection

Flaws, biases, or inequalities present within societal structures and interactions that can lead to unfairness or discrimination.

Free Riders

Individuals who benefit from resources, goods, or services without offering any contribution or reciprocation.

Project Teams

Teams that are convened for a particular task or project and that disband once it is completed.