The following financial information is available for Flintlock Corporation.
(in millions) 2019 2018
Average common stockholders' equity................$2,532...........$2,591
Dividends declared for common stockholders...........298................611
Dividends declared for preferred stockholders............40.................40
Net income....................................................504...............555
Instructions
Calculate the payout ratio and return on common stockholders' equity for 2019 and 2018.
Comment on your findings.