Yellow duck distribution company has generated earnings of $240,000,000. its target capital structure consists of 60% equity and 40% debt. it plans to spend $83,000,000 on capital projects over the next year and expects to finance this investment in the same proportion as its capital structure. the company makes distributions in the form of dividends. what will yellow duck distribution company’s dividend payout ratio be if it follows a residual dividend policy? 67.36% 59.44% 63.40% 79.25%

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.