Problem 11-7A Cepeda Company manufactures backpacks. During 2014, Cepeda issued bonds at 11% 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 $18,513,000 $18,513,000 Net income 4,607,680 5,142,500 Interest expense 993,000 278,040 Tax expense 1,378,190 1,542,750 Dividends paid on common stock 1,767,540 2,037,636 Dividends paid on preferred stock 595,800 595,800 Total assets (year-end) 29,826,500 34,711,875 Average total assets 31,155,375 35,277,318 Total liabilities (year-end) 11,916,000 5,958,000 Avg. total common stockholders equity 18,668,400 28,002,600 (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