Show Attempt History Current Attempt in Progress - Your answer is partially correct. Pina Company manufactures backpacks. During 2022, Pina issued bonds at 12% interest and used the cash proceeds to purchase treasury stock. The following financial information is available for Pina Company for the years 2022 and 2021. Sales revenue Net income 2022 $14,400,000 2021 $14,400,000 3,584,000 4,000,000 Interest expense 1,100,000 308,000 Tax expense 1,072,000 1,200,000 Dividends paid on common stock 1,958,000. 2,257,200 Dividends paid on preferred stock 660,000 660,000 Total assets (year-end) 23,200,000 27,000,000 Average total assets 25,100,000 39.078.600 Total liabilities (year-end) 13,200,000 6,600,000 Avg. total common stockholders' equity 20,680,000 31.020,000 (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.) 2022 2021 Average Total liabilities (year-end) Avg. total common stockholders' equity 13,200,000 20,680,000 6,600,000 31,020,000 (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.) (1) Return on assets (2) Return on common stockholders' equity 14.1 2022 14.3 % de % 2021 10.2 % 10.8 % (3) Payout ratio 73.0 % 72.9 % (4) Debt to assets ratio 56.9 se 24,4 % (5) Times interest earned 13.1 times 46.8 times eTextbook and Media Save for Later Attempts: unlimited. Submit Answer MacBook Air