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Novak Company manufactures backpacks. During 2022 , Novak issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial

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Novak Company manufactures backpacks. During 2022 , Novak issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Novak Company for the years 2022 and 2021. 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

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