The 2021 income statement of Adrian Express reports sales of $21,710,000, cost of goods sold of $12,850,000, and net income of $2,180,000 Balance sheet information is provided in the following table, ADRIAN EXPRESS Balance Sheets December 31, 2021 and 20:26 2020 Assets Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current Habilities Long term Habilities Connon stock Retained earnings Total liabilities and stockholders' equity 5 940,000 $90,000 1,900,000 1,260,000 2,420,000 1,800,000 5,140,000 4,460,000 $10,400,000 $8,520,000 $ 2,184,000 $1,904,690 2.616,000 2,644,000 2,200,000 2,850,000 3.400,000 1,892.000 $10,400,000 58,520,000 Industry averages for the following profitability ratios are as follows. Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25 15% 13.5 times 35% Required: 1. Calculate the five profitability ratios listed above for Adrian Express (Round your answers to 1 decimal place.) Required: 1. Calculate the five profitability ratios listed above for Adrian Express (Round your answers to 1 decimal place.) % Prontability Ration Gross profit ratio Return on a Profit margin Asset turnover Return on equity % times % 2. Do you think the company is more profitable or less profitable than the industry average? More profitable Less profitable