The 2024 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, 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 Return on assets Profit margin Asset turnover Return on equity Required: 45% 25% 15% 13.5 times 35% $940,000 $980,000 1,900,000 1,280,000 2,420,000 1,800,000 5,140,000 4,460,000 $10,400,000 $8,520,000 $2,184,000 $1,904,000 2,616,000 2,644,000 2,200,000 2,080,000 3,400,000 1,892,000 $10,400,000 $8,520,000 1. Calculate the five profitability ratios listed above for Adrian Express. 2. Do you think the company is more profitable or less profitable than the industry average? Complete this question by entering your answers in the tabs below. Required 1 Required 2 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 times Return on equity % Required 1 Required 2 > The 2024 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, 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 Return on assets Profit margin Asset turnover Return on equity Required: 45% 25% 25% 13.5 times 35% $940,000 $980,000 1,900,000 1,280,000 2,420,000 1,800,000 5,140,000 4,460,000 $10,400,000 $8,520,000 $2,184,000 $1,904,000 2,616,000 2,644,000 2,200,000 2,080,000 3,400,000 1,892,000 $10,400,000 $8,520,000 1. Calculate the five profitability ratios listed above for Adrian Express. 2. Do you think the company is more profitable or less profitable than the industry average? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Do you think the company is more profitable or less profitable than the industry average? Do you think the company is more profitable or less profitable than the industry average? < Required 1 E Requined 2 -