The 2018 income statement of Adrian Express reports sales of $15.2 million, cost of goods sold of $10 million, and net income of $3.2 million. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current assets: Cash $ 800,000 $ 900,000 Accounts receivable 2,100,000 1,800,000 Inventory 1,500,000 1,600,000 Long-term assets 5,200,000 5,400,000 Total assets $ 9,600,000 $ 9,700,000 Liabilities and Stockholders' Equity Current liabilities $ 1,800,000 $ 2,000,000 Long-term liabilities 1,500,000 2,100,000 Common stock 3,000,000 3,000,000 Retained earnings 3,300,000 2,600,000 Total liabilities and stockholders' equity $ 9,600,000 $ 9,700,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio 25 % Return on assets 15 % Profit margin 10 % Asset turnover 1.5 times Return on equity 25 % Required: 1. Calculate the five profitability ratios given below for Adrian Express. (Round your answers to 1 decimal place.) 2. Do you think the company is more profitable or less profitable than the industry average? More profitable Less profitable