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10 points The 2021 income statement of Adrian Express reports sales of $16,932,000, cost of goods sold of $10,363,500, and net income of $1,630,000.
10 points The 2021 income statement of Adrian Express reports sales of $16,932,000, cost of goods sold of $10,363,500, and net income of $1,630,000. Balance sheet information is provided in the following table. Assets Current assets: Cash Accounts receivable ADRTAN EXPRESS Balance Sheets December 31, 2021 and zeze 2021 2020 $630,000 $790,000 1,860,000 1,430,000 4,270,000 $8,780,000 $7,520, Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term 11abilities 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) 25 days 60 days 2 to 1 Sex 000 000 970,000 2,490,000 Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.) Answer is complete but not entirely correct. Risk Ratios Average collection period 26.86 days
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