The 2021 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 Sheets December 31, 2021 and 2020 2021 2020 $ 700,000 $ 860,000 1,600,000 1,100,000 2,000,000 1,500,000 4,900,000 4,340,000 $9,200,000 $7,800,000 Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $1,920,000 $1,760,000 2,400,000 2,500,000 1,900,000 1,900,000 2,980,000 1,640,000 $9,200,000 $7,800,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 459 259 15$ 2.5 times 359 Required: 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) Profitability Ratios Gross profit ratio % Return on assets 1% Profit margin Asset turnover times Return on equity 89.0 %