Exercise 12-5 Evaluate risk ratios (LO12-3) The 2018 income statement of Adrian Express reports sales of $14,706,000, cost of goods sold of $8,624,000, and net income of $1,560,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets: Cash $ 560,000 $ 720,000 Accounts receivable 1,320,000 960,000 Inventory 1,720,000 1,350,000 Long-term assets 4,760,000 4,200,000 Total assets $ 8,360,000 $7,240,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,980,000 S1,620,000 2,260,000 2,360,000 1,920,000 1,920,000 2,200,000 1,340,000 $8,380,000 $7,240,000 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 50% Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2018. (Use 365 days in a year. Round your answers to 1 decimal place.) Risk Ratios Average collection period Average days in inventory Current ratio Debt to equity ratio days days