The following information pertains to marsh company. assume that all balance sheet amounts represent average balance figures. total asset $400,000stockholders' equity—common 200,000total stockholders' equity 280,000sales revenue 120,000net income 25,000number of shares of common stock 8,000common dividends 9,000preferred dividends 6,000what is marsh's payout ratio? a. 60%.b. 36%.c. 24%.d. 7.5%.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.