The following selected information is available for Volvo Group, headquartered in Sweden, for three fiscal years (in SEK [Swedish krona] millions):

(a) Calculate the current ratio, gross profit margin, and profit margin for each year.
(b) Comment on whether the ratios have improved or deteriorated over the three years.
(c) Compare the 2012 ratios calculated in part (a) with the following industry averages: current ratio 0.9:1; gross profit margin 13.5%; and profit margin (3.8)%. Are Volvo's ratios better or worse than those of its industry?

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2012 152,751 2010 147,139 2011 Current assets Current liabilities 131,105 143,679 24,059 Net sales Cost of goods sold 235,085 236,685 201,797 Profit 172,659 303,647310,367 264,749 18,115 11,258 11,212