Culver Company manufactures backpacks. During 2022, Culver issued bonds at 10% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Culver Company for the years 2022 and 2021 Sales revenue Net income Interest expense Taxexpense Dividends paid on common stock Dividends paid on preferred stock Total assets (year-end) Average total assets Total liabilities (year-end) Ave total common stockholders' equity 2022 2021 $17,550,000 $17,550,000 4,368,000 4,875,000 1,450,000 406,000 1,306,500 1,462,500 2,581,000 2,975,400 870,000 870,000 28,275,000 32,906,250 30,590,625 51,512,700 17,400,000 8,700,000 27.260,000 40,890,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, es. 12.5% or 12.5.) 2022 2021 Return on assets %6 12) Return on common stockholders equity 41 305 (3) Payout ratio 30.9 % 308 Debt to assets ratio 15 Times interest earned 11 times 409 times