While eating his Kellogg’s Frosted Flakes one February morning, Tony noticed the following notification on his iPhone:

BATTLE CREEK, Mich., February 11, 2021 /PRNewswire/—Kellogg Company (NYSE: K) today announced fourth quarter and full year 2020 results. A quick click revealed reported earnings per share of $0.59 and $3.63 for the quarter and year ended January 2, 2021 respectively. As a shareholder, Tony is well aware that Kellogg pays a regular cash dividend of $0.57 per share quarterly. A quick click on a price quote service indicated that Kellogg’s shares closed at $62.23 on December 31.

Required:
1. Using the numbers provided, determine the price-earnings ratio for Kellogg Company for the year ended January 2, 2021.
2. What is the dividend payout ratio for Kellogg for the year ended January 2, 2021.