The 2024 income statement of Adrian Express reports sales of $12,915,000, cost of goods sold of $7,250,000, and net income of $1,500,000. 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 debt Common stock Retained earnings $ 500,000 1,200,000 1,600,000 4,700,000 $ 8,000,000 $ 1,920,000 2,290,000 1,800,000 1,990,000 $ 660,000 900,000 1,300,000 4,140,000 $ 7,000,000 $ 1,560,000 2,300,000 1,800,000 1,340,000 Total liabilities and stockholders' equity $ 8,000,000 $ 7,000,000 Industry averages for the following four ratios are as follows: Average collection period Average days in inventory Current ratio Debt to equity ratio Required: 29 days 80 days 2 to 1 35% 1. Calculate the four ratios listed above for Adrian Express in 2024 assuming all sales are on credit and current liabilities consist of accounts payable and salaries payable. 2. Do you think the company is more or less efficient at managing its current assets than the industry average? 3. Do you think the company is more risky or less risky than the industry average? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 1. Calculate the four ratios listed above for Adrian Express in 2024 assuming all sales are on credit and current liabilities consist of accounts payable and salaries payable. Note: Use 365 days in a year. Round your answers to 1 decimal place. Do not round your intermediate calculations. Average collection period Average days in inventory Current ratio Debt to equity ratio Ratios days days to 1 % Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 2. Do you think the company is more or less efficient at managing its current assets than the industry average? 3. Do you think the company is more risky or less risky than the industry average? 2. Do you think the company is more or less efficient at managing its current assets than the industry average? 3. Do you think the company is more risky or less risky than the industry average? < Req 1 Req 2 and 3