The 2024 income statement of Adrian Express reports sales of $23,310,000, cost of goods sold of $13,250,000, and net income of $2,500,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2024 and 2023 2024 2023 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 Industry averages for the following four risk ratios are as follows: Gross profit ratio 45% Return on assets 25% Profit margin 15% Asset turnover 20.5 times Return on equity 35% $1,100,000 $1,060,000 2,100,000 1,400,000 2,700,000 2,000,000 5,300,000 4,540,000 $11,200,000 $9,000,000 $2,360,000 $2,000,000 2,760,000 2,740,000 2,400,000 2,200,000 3,680,000 2,060,000 $11,200,000 $9,000,000