Reference no: EM132557920
The 2021 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, 2020 and 2021
Assets 2021 2020
Current assets:
Cash $720,000 $870,000
Accounts receivable 1,625,000 1,115,000
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 $1,942,000 $1,772,000
Long-term liabilities 2,418,000 2,512,000
Common stock 1,925,000 1,915,000
Retained earnings 3,015,000 1,661,000
Total liabilities and stockholders' equity $9,300,000 $7,860,000
Industry averages for the following profitability ratios are as follows:
Gross profit ratio 45%
Return on assets 25%
Profit margin 15%
Asset turnover 2.5times
Return on equity 35%
Required:
Question 1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
Profitability Ratios
Gross profit ratio%
Return on assets%
Profit margin%
Asset turnovertimes
Return on equity%
|
The human body and the flight environment
: What type of hypoxia do you believe to be the most dangerous to the aviator? Provide a detailed explanation on why you believe it to be the most dangerous type.
|
|
Non-profit and professional sport
: How the environmental factors can affect their operation for public, non-profit and professional sport
|
|
Calculate depreciation expense under units of production
: Calculate depreciation expense for 2018 & 2019 under Units of production, assuming the van was driven 20,000 km in 2018 and 25,000 km in 2019.
|
|
What should be the adjusted cash balance at September
: Bank service charges for September R.O. 40, check erroneously charged by bank R.O. 300. What should be the adjusted cash balance at September
|
|
Calculate the profitability ratios for adrian express
: Calculate the Profitability Ratios, Gross profit ratio%, Return on assets%, Profit margin% and Asset turnovertimes for Adrian Express
|
|
Describe about main coverage and inpatient
: Roughly describe about main coverage and inpatient & outpatient coverage of Employee Benefit Insurance.
|
|
Determining the covid-19 pandemic
: Critically discuss, with relevant examples, whether the COVID-19 pandemic has brought about the end of overtourism and tourist mobility?
|
|
What did mazaya company show as total debits
: Share capital-ordinary 1,500; Dividends 750; Revenues 22,500, Expenses 18,750; What did Mazaya Company show as total debits on its trial balance
|
|
Norms of competition in the video game industry
: In what ways did Nintendo's Wii break with the norms of competition in the video game industry? How defensible was its position?
|