Ayayai Company manufactures backpacks. During 2022, Ayayai issued bonds at 10% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Ayayai Company for the years 2022 and 2021. 2022 2021 Sales revenue $19,350,000 $19,350,000 Net income 4,816,000 5,375,000 Interest expense 625,000 175,000 Tax expense 1,440,500 1,612,500 Dividends paid on common stock 1,112,500 1,282,500 Dividends paid on preferred stock 375,000 375,000 Total assets (year-end) 31,175,000 36,281,250 Average total assets 19,609,375 22,203,750 Total liabilities (year-end) 7,500,000 3,750,000 Avg. total common stockholders' equity 11,750,000 17,625,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, e.g. 12.5%.) 2022 2021 (1) Return on assets % % (2) Return on common stockholders' equity % % (3) Payout ratio % (4) Debt to assets ratio %