The following information (dollars in thousands) is for Danier Leather Inc.:

Instructions
(a) Calculate the gross profit margin, profit margin, and current ratio for Danier Leather for 2014, 2013, and 2012.
(b) Comment on whether the ratios have improved or deteriorated over the three years.
Taking It Further
What other information would be useful when evaluating these ratios over the three- year period?

Transcribed Image Text:

2014 2013 2012 Current assets Current liabilities Net sales Cost of goods sold Profit (loss) 33,970 49,709 S 60,965 11,748 154,995 76,579 1,411 10,790 41,930 73,697 (7663) 11,748 148,219 71,513 4,003