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Problem 11-7A Cepeda Company manufactures backpacks. During 2014, Cepeda issued bonds at12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Cepeda Company for the years 2014 and 2013.

2014	2013
Sales revenue	$24,291,000	$24,291,000
Net income	6,045,760	6,747,500
Interest expense	917,500	256,900
Tax expense	1,808,330	2,024,250
Dividends paid on common stock	1,633,150	1,882,710
Dividends paid on preferred stock	550,500	550,500
Total assets (year-end)	39,135,500	45,545,625
Average total assets	28,786,563	32,595,105
Total liabilities (year-end)	11,010,000	5,505,000
Avg. total common stockholders equity	17,249,000	25,873,500

(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.)

2014	2013
(i)	Return on assets		%		%
(ii)	Return on common stockholders equity		%		%
(iii)	Payout ratio		%		%
(iv)	Debt to assets ratio		%		%
(v)	Times interest earned		times		times

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