Litehouse Incorporated reported the following selected information: 2022 2021 Weighted average number of common shares 75,000 73,500 Net income $450,000 $410,500 Preferred share dividends $50,000 $34,500 Common shareholders' equity $3,500,000 $3,300,000 Dividends declared per share $2.50 $2.40 Market price per share $30.00 $32.50 Instructions Calculate the following ratios for 2022 and 2021 respectively: (a) Basic earnings per share (2 marks) (b) Return on common shareholders' equity (assume 2020 common shareholders' equity of $3,250,000) (2 marks) (C) Dividend yield (2 marks) (d) Payout ratio (2 marks)