01 ces The 2024 income statement of Adrian Express reports sales of $20,170,000, cost of goods sold of $12,450,000, and net income of $1,860,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 2024 2023 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: Gross profit ration $780,000 1,700,000 $900,000 1,160,000 2,140,000 1,600,000 4,980,000 4,380,000 $9,600,000 $8,040,000 $2,008,000 $1,808,000 2,472,000 2,548,000, 2,000,000 1,960,000 1,724,000 $8,040,000 3,120,000 $9,600,000 45% Return on assets 256 Profit margin 156 Asset turnover 5.5 times Return on equity 356 Pray 4 of 5 Next >