Data taken from the financial statements of Arctagon a steel
Data taken from the financial statements of Arctagon, a steel manufacturer headquartered in the Netherlands, appear below (amounts in millions of euros). Arctagon acquired other steel companies during the threeyear period.

a. Compute the long-term debt ratio and the debt–equity ratio at the end of each year.
b. Compute the cash flow from operations to total liabilities ratio and the interest coverage ratio for 2011 through 2013.
c. How has the long-term liquidity risk of Arctagon changed over this three-yearperiod?
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