DIVIDEND PAYOUT RAI Carson Electronics earned $2.4 million in net income last year and for the first time ever paid its common stockholders a cash dividend of S0.02 per share. The firm has 10 million shares outstanding. What was Carson's dividend payout ratio? DATA Net income Dividend/share Number of shares outstanding S2,400,000 S0.02 10,000,000 SOLUTION Total dividends paid Dividend pay-out ratio Requirements 1. Start Excel. Download and open the workbook named: Keown _Martin Petty_Problem 13-1 Start. Important note: All calculations must be shown using cell references. Do NOT enter numerical values in the cells 2. In cell B12, calculate the total dividends paid. (1 point) 3. In cell B13, calculate the dividend payout ratio. (1 point) 4. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed