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The 2012 income statement of Adrian Express reports sales of $16 million, cost of goods sold of $12.8 million, and net income of $1.4 million.

The 2012 income statement of Adrian Express reports sales of $16 million, cost of goods sold of $12.8 million, and net income of $1.4 million. Balance sheet information is provided in the following table. All amounts are in thousands.

ADRIAN EXPRESS Balance Sheet December 31, 2012 and 2011
($ in 000s) 2012 2011
Assets
Current assets:
Cash $ 440 $ 600
Accounts receivable 1,720 1,320
Inventory 1,900 1,500
Long-term assets 3,800 4,380
Total assets $ 7,860 $ 7,800
Liabilities and Stockholders' Equity
Current liabilities $ 2,160 $ 1,800
Long-term liabilities 1,900 2,000
Common stock 2,000 2,000
Retained earnings 1,800 2,000
Total liabilities and stockholders' equity $ 7,860 $ 7,800

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

Gross profit ratio 25 %
Return on assets 22 %
Profit margin 13 %
Asset turnover 2 times
Return on equity 31 %

Required:
1.

Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place. Omit the % sign in your response.)

Profit margin %
Return on equity %

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