Question 16 Blue Rays Incorporated reported the following selected information: Not yet answered 2022 2021 Weighted average number of common shares 75,000 Marked out of 15.00 73,500 Net income $450,000 $410,500 Flag question Preferred share dividends $50,000 $34,500 Common shareholders equity $3,500.000 $3,300,000 Dividends declared per share $2.50 $2.40 Market price per share $30.00 $32.50 SHOW YOUR CALCULATIONS Instructions (15 marks) Calculate the following ratios for 2022 and 2021 respectively, (a) Basic earnings per share (b) Return on common shareholders equity (assume 2020 common shareholders equity of 53250,000) c) Dividend yield (d) Payout ratio