The 2018 income statement of Adrian Express reports sales of $21,910,000, cost of goods sold of $12,900,000, and net income of $2.220,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Curent assets: Cash Accounts receivable Inventory $ 960,000 990,000 1295,000 1825,000 5,160,000 4470,000 1,925,000 2455,000 Long-term assets Total assets $10,500,000 8.580,000 Liabilities and Stockholders Equity Current labilities Long-berm lablities Common stock Retained eamings 2,206,000 $1,916,000 2634,0002,656,000 3,435,000 913,000 $10,500,000 $8,580,000 Total liablities and stockholders" equity Industry averages for the following profisability ratios are as follows Gross profit ratio Return on assets Profit margi Asset tumover Return on equity 45 % 25% 15% 2.5 times 35% Required