Martinez Company manufactures backpacks. During 2025, Martinez issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Martinez Company for the years 2025 and 2024. 2025 2024 Sales revenue Net income Interest expense $9,100,000 $9,100,000 2,590,500 2,983,750 510,000 160,000 Tax expense 724,500 968,250 Dividends paid on common stock 1,036,200 1,253,175 Dividends paid on preferred stock 350,000 350,000 Total assets (year-end) 14,500,000 18,500,000 Average total assets. 16,500,000 19,375,000 Total liabilities (year-end) 6,046,500 3,034,000 Avg. total common stockholders' equity) 17,860,000 26,790,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, eg. 12.5 or 12.5%) 2025 (1) Return on assets 15.70 % (2) Return on common stockholders' equity 14.56 (3) Payout ratio 14.56 (4) Debt to assets ratio 40 % (5) Times interest earned 2024 15.38 % 11.16 11.16 42.02 % 5.08 times 18.65 times