Answer Happy

The 2024 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income of $1,700,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable Inventory ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 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: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25% 15% 2.5 Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 35% times % % % times % 2024 Complete this question by entering your answers in the tabs below. $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. Calculate the five profitability ratios listed above for Adrian Express. 2. Do you think the company is more profitable or less profitable than the industry average? < Required 1 2023 $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 Required 1 Required 2 Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) Profitability Ratios Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Do you think the company is more profitable or less profitable than the industry average? Do you think the company is more profitable or less profitable than the industry average? < Required 1 Required 2 >