Monty Company manufactures backpacks. During 2022, Monty issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Monty Company for the years 2022 and 2021. 2022 2021 Sales revenue Net income $13,500,000 $13,500,000 3,360,000 3,750,000 Interest expense 1,000,000 280,000 Tax expense 1,005,000 1,125,000 Dividends paid on common stock 1,780,000 2,052,000 Dividends paid on preferred stock 600,000 600,000 Total assets (year-end) 21,750,000 25,312,500 Average total assets 23,531,250 35,526,000 Total liabilities (year-end) 12,000,000 6,000,000 Avg. total common stockholders' equity 18,800,000 28,200,000 (a) rulate the following ratios for both years: (Round answers to 1 decimal place, e.g. 12.5% or 12.5.) Dividends paid on common stock 1,780,000 2,052,000 Dividends paid on preferred stock 600,000 600,000 Total assets (year-end) 21,750,000 25,312,500 Average total assets 23,531,250 35,526,000 Total liabilities (year-end) 12,000,000 6,000,000 Avg. total common stockholders' equity 18,800,000 28,200,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, e.g. 12.5% or 12.5.) (1) Return on assets. 2022 14.28 % 2021 9.74 % (2) Return on common stockholders' equity 13.3 % 10.1 % (3) Payout ratio 57.4 % 59.3 % (4) Debt to assets ratio 59.8 % 25.7 % (5) Times interest earned 5.03 times 17.07 times eTextbook and Media