13. Based on your analysis from Part One, is the change in Payout Ratio from 2020 to 2021 an improvement, a deterioration or no change to one decimal place?

14. Based on your analysis from Part One, which of the following transactions and events would result in an improvement in Payout Ratio in year 2021?

    1. selling goods for cash at the normal mark-up

    2. the consumption of a prepaid expense from the previous period

    3. a payment for wages owing from the previous period

    4. A and B only

    5. A and C only

    6. B and C only

    7. All of the above

    8. None of the above

\begin{tabular}{|l|r|r|r|r|r|} \hline & 2018 & 2019 & 2020 & 2021 & \multicolumn{1}{|c|}{2022} \\ \hline Dividend & & & & & \\ \hline payout ratio (%) & 41,00 & 50,00 & 64,00 & 35,00 & 51,00 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|r|} \hline & 2018 & 2019 & 2020 & 2021 & \multicolumn{1}{|c|}{2022} \\ \hline Dividend & & & & & \\ \hline payout ratio (%) & 41,00 & 50,00 & 64,00 & 35,00 & 51,00 \\ \hline \end{tabular}