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. 2022 2021 Sales revenue $13,950,000 $13,950,000 Net income 3.472.000 3,875,000 Interest expense 1,050,000 294,000 Tax expense 1,038,500 1,162,500 Dividends paid on common stock 1,869,000 2.154,600 Dividends paid on preferred stock 630,000 630,000 Total assets (year-end) 22.475,000 26,156,250 Average total assets 24,315,625 37,302 300 Total liabilities (year-end) 12,600,000 6,300,000 Avg. total common stockholders' equity 19,740,000 29,610,000 (a) Use the information above to calculate the following ratios for both years: (Round answers to 1 decimal place, c.8. 12.5% or 12.5.) (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.) 2022 2021 (1) % % (2) % % Return on assets Return on common stockholders' equity Payout ratio Debt to assets ratio (3) 96 % % (5) Times interest earned times times e Textbook and Media Assistance Used