
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Transcribed Image Text:Summit Ltd. declared an annual dividend of $0.75 per
share. The company reported an after-tax profit of
$90,000 and has 18,000 shares in circulation.
1. Calculate the profit per share.
2. Determine the payout ratio.
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