MJO Inc. has the following stockholders€™ equity section of the balance sheet:
MJO Inc.
Balance Sheet (Partial)

On this date MJO€™s stock was selling for $25 per share.

Required:
1. Assuming MJO€™s dividend yield is 1 percent, what are the dividends per common share?
2. Assuming MJO€™s dividend yield is 1 percent and its dividend payout is 20 percent, what is MJO€™s net income?

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Stockholders' equity: Preferred stock, 100,000 shares authorized; 30,000 300,000 Common stock, 1,000,000 shares authorized; 600,000 Additional paid-in capital Total capital stock issued and outstanding issued; 550,000 outstanding Preferred stock 1,200,000 $ 90,000 Common stock 4,800,000 4,890,000 $6,390,000 450,000 22,000 800,000] $6,062,000 Retained earnings Accumulated oher comprehensive income Less: Treasury stock, at cost Total stockholders' equity