Hans bramble, president of bramble corp., believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. last year, net income was $740,000, and the corporation paid $148,000 in dividends. this year, due to some unusual circumstances, the corporation had income of $1,590,000. hans expects next year’s net income to be about $840,000.
1. what was bramble corp.’s payout ratio last year?
2. if it is to maintain the same payout ratio, what amount of dividends would it pay this year?

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.