Please answer both questions, and show all work in an excell format please. I appreciate your help.

Friendly Inc. has a capital budget of exist625,000, and it wants to maintain a target capital structure of 60% debt and 40% equity. The company forecasts a net income of exist475,000. If it follows the residual dividend policy, what is its forecasted dividend payout ratio? Show all of your calculation work and label all of your work so I can follow your calculation process. The KokaKola Company has exist1 million in excess cash it wishes to return to stockholders. Selected financial information is as follows. If KokaKola chooses to distribute the cash through a stock repurchase and the price earnings ratio doesn't change through the transaction, what will the stock's market price be after the shares are acquired? Show all of our calculation work and label all of your work so I can follow your calculation process