- The 2024 Income Statement Of Adrian Express Reports Sales Of 19 310 000 Cost Of Goods Sold Of 12 250 000 And Net Inc 1 (47.32 KiB) Viewed 24 times
- The 2024 Income Statement Of Adrian Express Reports Sales Of 19 310 000 Cost Of Goods Sold Of 12 250 000 And Net Inc 2 (9.93 KiB) Viewed 24 times
The 2024 income
statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income $1,700,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity Industry averages for the following four risk ratios are as follows: Average collection period Average days in inventory Current ratio Debt to equity ratio ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 Required 1 25 days 60 days 2 to 1 50% Risk Ratios Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2024. 2. Do you think the
company is more risky or less risky than the industry average? Complete this
question by entering your answers in the tabs below. Average collection period Average days in inventory Current ratio Debt to equity ratio Required 2 Calculate the four risk ratios listed above for Adrian Express in 2024. (Use 365 days in a year. Round your answers to 1 decimal place. Do not round your intermediate calculations.) days days 2024 % $700,000 $860,000 1,600,000 1,100,000 2,000,000 1,500,000 4,900,000 4,340,000 $9,200,000 $7,800,000 < Required 1 $1,920,000 $1,760,000 2,400,000 2,500,000 1,900,000 1,900,000 2,980,000 1,640,000 $9,200,000 $7,800,000 2023 Required 2 >
Complete this
question by entering your answers in the tabs below. Required 1 Required 2 Do you think the
company is more risky or less risky than the industry average? Do you think the
company is more risky or less risky than the industry average? < Required 1 Required 2 >