Use the following income statement to calculate 1) the divid…

Questions

Use the fоllоwing incоme stаtement to cаlculаte 1) the dividend payout ratio and 2) the retention ratio for Crown Heights Co.Income Statement (Crown Heights Co.):Sales = $62,000Costs = $47,850Taxable income = $14,150Taxes (25%) = $3,537.50Net income = $10,612.50Dividends = $4,700Addition to retained earnings = $5,912.50Submission Instructions:You may choose one of the following options to submit your answers:Type your complete answer directly in the answer field on Blackboard, ORType only the final answer and “see answer on scratch paper” in the provided field, and show your handwritten work to the camera before proceeding to the next question.

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