Blue Rays Incorporated reported the following selected information: 2022 2021 Weighted average number of common shares 73,500 Net income Preferred share dividends 75,000 $450,000 $50,000 $3,500,000 $2.50 Common shareholders' equity Dividends declared per share $410,500 $34,500 $3,300,000 $2.40 $32.50 $30.00 Market price per share SHOW YOUR CALCULATIONS Instructions (15 marks) Calculate the following ratios for 2022 and 2021 respectively: (a) Basic earnings per share (b) Return on common shareholders' equity (assume 2020 common shareholders' equity of $3,250,000) (c) Dividend yield (d) Payout ratio