The 2018 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income of $1,700,000. Balance sheet information is provided in the following table.

ADRIAN EXPRESS Balance Sheet December 31, 2018 and 2017
	2018		2017
Assets
Current assets:
Cash	$	700,000	$	860,000
Accounts receivable		1,600,000		1,100,000
Inventory		2,000,000		1,500,000
Long-term assets		4,900,000		4,340,000
Total assets	$	9,200,000	$	7,800,000
Liabilities and Stockholders' Equity
Current liabilities	$	1,920,000	$	1,760,000
Long-term liabilities		2,400,000		2,500,000
Common stock		1,900,000		1,900,000
Retained earnings		2,980,000		1,640,000
Total liabilities and stockholders' equity	$	9,200,000	$	7,800,000

Industry averages for the following profitability ratios are as follows:

Gross profit ratio	45	%
Return on assets	25	%
Profit margin	15	%
Asset turnover	2.5	times
Return on equity	35	%

Required:

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

a. gross profit ratio

b. return on assets

c. profit margin

d. asset turnover

e. return on equity