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The 2018 income statement of Adrian Express reports sales of $21,110,000, cost of goods sold of $12,700,000, and net income of $2,060,000. Balance sheet information

The 2018 income statement of Adrian Express reports sales of $21,110,000, cost of goods sold of $12,700,000, and net income of $2,060,000. Balance sheet information is provided in the following table.

ADRIAN EXPRESS Balance Sheet December 31, 2018 and 2017
2018 2017
Assets
Current assets:
Cash $ 880,000 $ 950,000
Accounts receivable 1,825,000 1,235,000
Inventory 2,315,000 1,725,000
Long-term assets 5,080,000 4,430,000
Total assets $ 10,100,000 $ 8,340,000
Liabilities and Stockholders' Equity
Current liabilities $ 2,118,000 $ 1,868,000
Long-term liabilities 2,562,000 2,608,000
Common stock 2,125,000 2,035,000
Retained earnings 3,295,000 1,829,000
Total liabilities and stockholders' equity $ 10,100,000 $ 8,340,000

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.)

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