The 2021 income statement of Adrian Express reports sales of $20,510,000, cost of goods sold of $12,550,000, and net income of $1,940,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 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 $ 820,000 1,750,000 2,210,000 5,020,000 $9,800,000 $ 920,000 1,190,000 1,650,000 4,400,000 $8,160,000 $2,052,000 2,508,000 2,050,000 3,190,000 $9,800,000 $1,832,000 2,572,000 1,990,000 1,766,800 $8,160,000 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% 7.5 times 35% 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 Profit margin Asset turnover Return on equity % times % 2. Do you think the company is more profitable or less profitable than the industry average