Culver Company manufactures backpacks. During 2022, Culver issued bonds at 10% interest and used the cash proceeds to purchase treasury The following financial information is available for Culver Company for the years 2022 and 2021. Sales revenue Net income Interest expense Tax expense Dividends paid on common stock Dividends paid on preferred stock 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 Total assets (year-end) Average total assets Total liabilities (year-end) Avg, total common stockholders' equity (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal places. 12.5% or 125 2022 2021 (1) Return on assets (2) Return on common stockholders' equity Total liabilities (year-end) Avg. total common stockholders' equity 17,400,000 27,260,000 8,700,000 40,890,000 a Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, eg. 12.5% or 1 2022 2021 (1) Return on assets e x (2) Return on common stockholders' equity (3) Payout ratio se (4) Debt to assets ratio de (5) Times interest earned simes times e Textbook and Media Attempts: 0 of 3 used