The 2021 income statement of Adrian Express reports sales of $13,500,000, cost of goods sold of $7,696,000, and net income of $1,520,000. 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 figuity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 520.000 1, 240.000 1.640,000 4. 720.000 $8,120,000 $ 680.000 920.000 1,320,000 4. 160.000 $7.080,000 $1.940,000 2.250,000 1.840,000 2.090.000 $8,120,000 $1,580,000 2.320,000 1.840,000 1,340.000 $7,080,000 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: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.) I days Next > Risk Ratios Arrann nollection period 1 of 4 Prev 1 Industry averages for the following four risk ratios are as follows: 2.5 points Average collection period Average days in inventory Current ratio Debt to equity ratio 25 days 60 days 2 to 1 50% Skipped eBook Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decir place.) Hint days Risk Ratios Average collection period Average days in inventory Current ratio Debt to equity ratio days Print to 1 % References 2. Do you think the company is more risky or less risky than the industry average? O More risky O Less risky Next > 1 of 4 !!! Prev Exercise 12-6A Evaluate profitability ratios (LO12-4) 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 $ 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 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 $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, 766,000 $8, 160,000 -nces Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 259 15% 7.5 times 35% Required: 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) Next > Profitability Ratins 2 of 4 Prev 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% eBook Required: 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.) Hint 0% % Print Profitability Ratios Gross profit ratio Return on assets Profit margin Asset turnover Return on equity % times eferences % 2. Do you think the company is more profitable or less profitable than the industry average? O More profitable O Less profitable Next >