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The 2024 income statement of Adrian Express reports sales of $20,310,000, cost of goods sold of $12,500,000, and net income of $1,900,000. Balance sheet information
The 2024 income statement of Adrian Express reports sales of $20,310,000, cost of goods sold of $12,500,000, and net income of $1,900,000. Balance sheet information is provided in the following table. Industry averages for the following ratios are as follows: Required: 1. Calculate the five 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. Calculate the five ratios listed above for Adrian Express. Note: Round your answers to 1 decimal place. Complete this question by entering your answers in the tabs below. Do you think the company is more profitable or less profitable than the industry average
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