he 2021 income statement of Adrian Express reports sales of $16,281,000, cost of goods sold of $9,851,500, and net income of $1,610,000. Balance sheet information is provided in the following table. ADRIAN EXPRESS Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 610,000 $ 770,000 Accounts receivable 1,420,000 1,010,000 Inventory 1,820,000 1,410,000 Long-term assets 4,810,000 4,250,000 Total assets $ 8,660,000 $ 7,440,000 Liabilities and Stockholders' Equity Current liabilities $ 2,010,000 $ 1,670,000 Long-term liabilities 2,310,000 2,410,000 Common stock 1,990,000 1,990,000 Retained earnings 2,350,000 1,370,000 Total liabilities and stockholders' equity $ 8,660,000 $ 7,440,000 Industry averages for the following four risk ratios are as follows: Average collection period 25 days Average days in inventory 60 days Current ratio 2 to 1 Debt to equity ratio 50% Required: 1. Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.)
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he 2021 income statement of Adrian Express reports sales of $16,281,000, cost of goods sold of $9,85...
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