2017. 09ID Current Attempt in Progress apport ting tes Sheffield Company manufactures backpacks. During 2022, Sheffield issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Sheffield Company for the years 2022 and 2021. 2022 2021 Sales revenue $16,200,000 $16,200,000 Net income 4,032,000 4,500,000 Interest expense 1,300,000 364,000 Tax expense 1,206,000 2,314,000 1,350,000 2,667,600 Dividends paid on common stock Dividends paid on preferred stock 780,000 780,000 Total assets (year-end) 26,100,000 30,375,000 Average total assets 28,237,500 46,183,800 7,800,000 Total liabilities (year-end) 15,600,000 Avg. total common stockholders' equity 24.440,000 36,660,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, e.g. 12.5% or 12.5.) 2022 2021 Return on assets Return on common stockholders' equity Payout ratio Debt to assets ratio Times interest earned times e Textbook and Media Save for Later