Sheffield Company manufactures backpacks. During 2025, Sheffield issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Sheffield Company for the years 2025 and 2024. 2025 2024 Sales revenue $8,700,000 $8,700,000 Net income 2,409,500 2,693,125 Interest expense 500,000 140,000 Tax expense 590,500 680,875 Dividends paid on common stock 939,705 1,120,340 Dividends paid on preferred stock 340,000 340,000 Total assets (year-end) 14,000,000 16,500,000 Average total assets Total liabilities (year-end) 15,250,000 17,375,000 5,992,000 2,953,500 Avg. total common stockholders' equity 24,440,000 36,660,000 (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%) 2025 2024 (1) Return on assets 15.80 % 15.50 % (2) Return on common stockholders' equity 0.08 % 0.06 % (3) Payout ratio 0.39 % 0.42 % (4) Debt to assets ratio 42.60 % 17.90 % (5) Times interest earned 2 times 25.1 times