The 2018 income statement of Adrian Express reporls sales of $20,910.000, cost of goods sold of $12,850.000, and net income of $2.020,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheet December 31, 2018 and 2017 2017 Assets Current assels: Cash Accounts receivable Irivernitory $860,000 940,000 1,800,000 ,220,000 1,700,000 5,060,000 4,420,000 2,280,000 Long-term assets $10,000,000 $8,280,000 Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings $ 2,096,000 S1,856,000 2,544,000 2,598,000 2,020,000 1,808,000 2,100,000 3,260,000 Total liabilities and stockholders' equity $10,000,000 8,280,000 Industry averages for the following profitability ratios are as follows: 45 % 25 % 15% 2.5 times 35% Gross profit ratio Return on assets Profit margin Asset turnover Return on equity Required 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) Profitability Ratios Gross profit ratio Retum on assets Profit margin Asset tumover Retum on equity imes 2. Do you think the company is more profitable or less profitable than the industry average? More profitable Less profitable