The 2024 income statement of Adrian Express reports sales of $19,510,000, cost of goods sold of $12,300,000, and net income of $1,740,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2824 and 2023 2024 2023 Assets Current assets: Cash $720,000 $870,000 Accounts receivable 1,625,000 1,115, eee. Inventory 2,035,000 1,525,000 Long-term assets 4,920,000 4,350,000 Total assets $9,300,000 $7,860,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock $1,942,000 $1,772,000 2,418,000 2,512,000 1,925,000 1,915,000 3,025,000 1,661,000 $9,300,000 $7,860,000 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 2.5 times 35% Return on equity Industry averages for the following four risk ratios are as follows: 45% Gross profit ratio Return on assets Profit margin Asset turnover 25% 15% times Return on equity 35% Required: 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? Answer is not complete. 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?