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How to find the missing values in question #1 The 2021 income statement of Adrian Express reports sales of $21,510,000, cost of goods sold of
How to find the missing values in question #1 The 2021 income statement of Adrian Express reports sales of $21,510,000, cost of goods sold of $12,800,000, and net income of $2.140,000. Balance sheet information is provided in the following table AORTAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assetst Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total Habilities and stockholders' equity $ 920,000 $970,000 1,875,000 1,265,000 2.385,000 1,775,000 5,120,000 4.450,00 $18,300,000 $8,460,000 $ 2,162,000 $1,892,000 2,598,000 2,632,000 2,175,000 2,065,000 3,365,000 1,871,000 $19,300,000 $8,460,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25 15% 12.5 times 35% Required: 1. Calculate the five profitability ratios listed above for Adrian Express (Round your answers to 1 decimal place.) % % Profitability Ration Gross profit ratio Return on assets Profit margin Assel turnover Return on equity % 23 times %
How to find the missing values in question #1
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