Mathematics
Mathematics, 19.04.2021 04:10, neariah24

The 2021 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,250,000, and net income of $1,700,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 700,000 $ 860,000 Accounts receivable 1,600,000 1,100,000 Inventory 2,000,000 1,500,000 Long-term assets 4,900,000 4,340,000 Total assets $ 9,200,000 $ 7,800,000 Liabilities and Stockholders' Equity Current liabilities $ 1,920,000 $ 1,760,000 Long-term liabilities 2,400,000 2,500,000 Common stock 1,900,000 1,900,000 Retained earnings 2,980,000 1,640,000 Total liabilities and stockholders' equity $ 9,200,000 $ 7,800,000 Industry averages for the following probability ratios are as follows: gross profit ratio 45% return on assets 25% profit margin 15% asset turnover 2.5 times return on equity 35%. calculate the five probability ratios listed above for adrian express. do you think the company is more profitable or less profitable than the industry average?

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The 2021 income statement of Adrian Express reports sales of $19,310,000, cost of goods sold of $12,...

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