Question: Use the balance sheets provided and selected income statement information to compute various ratios: ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020

Use the balance sheets provided and selected
Use the balance sheets provided and selected income statement information to compute various ratios: 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 Selected income statement information for Adrian Express for the year ended Dec. 31, 2021: Sales $ 19,310,000 Cost of goods sold $ 12,250,000 Net income $ 1,700,000 14. Fill in the table below for 2021 (5 points). Ratio Formula Calculations Answer Current ratio Debt-to-equity ratio Inventory turnover ratio Return on assets ratio Profit margin

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