The 2018 income statement of Adrian Express reports sales of $15,015,000, cost of goods sold of $8,863,500, and net income of $1,570,000. Balance sheet information is provided in the following table ADRIAN EXPRESS Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets Cash Accounts receivable $ 570,000 S 730,000 970,000 1,740,000 ,370,000 4,770,000 4,210,000 1,340,000 Long-term assets Total assets $8,420,000 $7,280,000 Liabilities and Stockholders' Equity Current liabilities $ 1,990,000 $1,630,000 2,270,000 2,370,000 1,940,000 ,940,000 2,220,000 1,340,000 Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $8,420,000 $7,280,000 Industry averages for the following four risk ratios are as follows Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days 2 to 1 50% Required