Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities...

Transcribed Image Text:

Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,000,000 $1,010,000 1,975,000 1,325,000 2,525,000 1,875,000 5,200,000 4,490,000 $10,700,000 $8,700,000 $ 2,250,000 $1,940,000 2,670,000 2,680,000 2,275,000 2,125,000 3,505,000 1,955,000 $10,700,000 $8,700,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25% 15% 16.5 times 35% Required: 1. Calculate the five profitability ratios listed above for Adrian Express (Round your answers to 1 decim Current assets: Cash Accounts receivable Inventory Long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity $ 1,000,000 $1,010,000 1,975,000 1,325,000 2,525,000 1,875,000 5,200,000 4,490,000 $10,700,000 $8,700,000 $ 2,250,000 $1,940,000 2,670,000 2,680,000 2,275,000 2,125,000 3,505,000 1,955,000 $10,700,000 $8,700,000 Industry averages for the following profitability ratios are as follows: Gross profit ratio Return on assets Profit margin Asset turnover Return on equity 45% 25% 15% 16.5 times 35% Required: 1. Calculate the five profitability ratios listed above for Adrian Express (Round your answers to 1 decim

Answer rating: 100% (QA)

To calculate the profitability ratios for Adrian Express well use the giv... View the full answer