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The 2 0 2 1 income statement of Adrian Express reports sales of $ 2 2 , 3 1 0 , 0 0 0 ,
The income statement of Adrian Express reports sales of $ cost of goods sold of $ and net income of $ Balance sheet information is provided in the following table.
ADRIAN EXPRESS
Balance Sheets
December and
Assets
Current assets:
Cash $ $
Accounts receivable
Inventory
Longterm assets
Total assets $ $
Liabilities and Stockholders' Equity
Current liabilities $ $
Longterm liabilities
Common stock
Retained earnings
Total liabilities and stockholders' equity $ $
Industry averages for the following profitability ratios are as follows:
Gross profit ratio
Return on assets
Profit margin
Asset turnover times
Return on equity
Required:
Calculate the five profitability ratios listed above for Adrian Express. Round your answers to decimal place.
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