4. 1 points 12.00 points Exercise 12-6 Evaluate profitability ratios (L012-4) The 2018 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 Sheet December 31, 2018 and 2017 2018 2017 Assets Current assets: $ 700,000 S 860,000 1,600,000 ,100,000 2,000,000 1500,000 4,340,000 Cash Inventory Long-term assets 4,900,000 Total assets $9,200,000 $7,800,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings $1,920,000 $1,760,000 2,400,000 2,500,000 1,900,000 1,640,000 1,900,000 2,980,000 1, Total liabilities and stockholders' equity $9,200,000 $7,800,000