Last year the Bulls Business Bureau (BBB) retained $400,000 of the $1 million net income it generated. This year BBB generated net income equal to $1.2 million. If BBB follows the constant payout ratio dividend policy, how much should be paid in dividends this year?

We don't do homework BUT if you post what you THINK the answer is as well as how you got there someone will correct you.

On this question I'm not sure I am on the right track since I don't have the outstanding shares can you tell me if I'm on the right track figuring it this way.
1,000,000 - 400,000 = 600,000 (.60) = 360,000