I have a question, I am finishing my final projects in accounting...can you please help me solve these last questions?

a.) Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

FEDERER SPORTS APPAREL
Balance Sheet
December 31
	Year		Increase (Decrease)
	2025	2024	Amount	%
Assets
Cash	$2,200,000	$800,000
Accounts receivable	1,237,500	990,000
Inventory	3,112,500	1,660,000
Buildings	7,150,000	7,150,000
Less: Accumulated depreciation	(1,200,000)	(600,000)
Total assets	$12,500,000	$10,000,000
Liabilities and Stockholders' Equity
Accounts payable	$1,512,500	$1,250,000
Contingent liability	850,000	800,000
Common stock	5,050,000	5,050,000
Retained earnings	5,087,500	2,900,000
Total liabilities and stockholders' equity	$12,500,000	$10,000,000

b.) The following income statement and balance sheets for Virtual Gaming Systems are provided.

VIRTUAL GAMING SYSTEMS
Income Statement
For the Year Ended December 31, 2024
Net sales		$3,006,000
Cost of goods sold		1,944,000
Gross profit		1,062,000
Expenses:
Operating expenses	$852,000
Depreciation expense	24,000
Loss on sale of land	7,400
Interest expense	12,000
Income tax expense	42,000
Total expenses		937,400
Net income		$124,600

VIRTUAL GAMING SYSTEMS
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$180,000	$138,000
Accounts receivable	75,000	54,000
Inventory	99,000	129,000
Prepaid rent	11,400	5,280
Long-term assets:
Investment in bonds	99,000	0
Land	204,000	234,000
Equipment	264,000	204,000
Less: Accumulated depreciation	(60,000)	(36,000)
Total assets	872,400	$728,280
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$60,000	$75,000
Interest payable	4,800	2,400
Income tax payable	12,000	13,400
Long-term liabilities:
Notes payable	279,000	219,000
Stockholders' equity:
Common stock	294,000	294,000
Retained earnings	222,600	124,480
Total liabilities and stockholders equity	$872,400	$728,280

Required: Assuming that all sales were on account, calculate the following risk ratios for 2024. (Use 365 days a year. Round your final answers to 1 decimal place.)

Risk Ratios
1. Receivables turnover ratio		times
2. Average collection period		days
3. Inventory turnover ratio		times
4. Average days in inventory		days
5. Current ratio
6. Acid-test ratio
7. Debt to equity ratio		%
8. Times interest earned ratio		times

c.) The 2024 income statement of Adrian Express reports sales of $19,910,000, cost of goods sold of $12,400,000, and net income of $1,820,000. Balance sheet information is provided in the following table.

ADRIAN EXPRESS
Balance Sheets
December 31, 2024 and 2023
	2024	2023
Assets
Current assets:
Cash	$760,000	$890,000
Accounts receivable	1,675,000	1,145,000
Inventory	2,105,000	1,575,000
Long-term assets	4,960,000	4,370,000
Total assets	$9,500,000	$7,980,000
Liabilities and Stockholders' Equity
Current liabilities	$1,986,000	$1,796,000
Long-term liabilities	2,454,000	2,536,000
Common stock	1,975,000	1,945,000
Retained earnings	3,085,000	1,703,000
Total liabilities and stockholders' equity	$9,500,000	$7,980,000

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

Gross profit ratio	45%
Return on assets	25%
Profit margin	15%
Asset turnover	4.5	times
Return on equity	35%

Required: 1. Calculate the five profitability ratios listed above for Adrian Express. 2. Do you think the company is more profitable or less profitable than the industry average?