Re: Exercise 1 Mock Exam & Chapter 7 In-Class Exercise 2 by Julio Crego - Thursday, 22 May 2025, 7:31 PM Number of replies: 0 It is a very good question. If nothing is stated, we assume 100% payout. If the payout is not 100%, we need to use dividends instead of earnings, as in the exercise in class Permalink Show parent Reply