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Can you help solve the following problem? The 2021 income statement of Adrian Express reports sales of $15,642,000, cost of goods sold of $9,351,500, and

Can you help solve the following problem?

The 2021 income statement of Adrian Express reports sales of $15,642,000, cost of goods sold of $9,351,500, and net income of $1,590,000. Balance sheet information is provided in the following table.

ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020
2021 2020
Assets
Current assets:
Cash $ 590,000 $ 750,000
Accounts receivable 1,380,000 990,000
Inventory 1,780,000 1,390,000
Long-term assets 4,790,000 4,230,000
Total assets $ 8,540,000 $ 7,360,000
Liabilities and Stockholders' Equity
Current liabilities $ 2,010,000 $ 1,650,000
Long-term liabilities 2,290,000 2,390,000
Common stock 1,980,000 1,980,000
Retained earnings 2,260,000 1,340,000
Total liabilities and stockholders' equity $ 8,540,000 $ 7,360,000

Industry averages for the following four risk ratios are as follows:

Average collection period 25 days
Average days in inventory 60 days
Current ratio 2 to 1
Debt to equity ratio 50%

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.)

Risk Ratios
Average collection period days
Average days in inventory days
Current ratio to 1
Debt to equity ratio %

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