Consider the following ratios: Industry 2011 2012 Liquidity: Current Ratio 2.52 3.22 2.72 Quick Ratio 2.97 2.52 1.34 Inventory Turnover 10.23 12.09 14.14 Accounts Receivable Turnover 4.53 1.76 2.00 Efficiency: Total Asset Turnover 0.64 0.98 1.03 Fixed Asset Turnover 4.63 3.21 4.74 Profitability: Gross Profit Margin Operating Profit Margin Net Margin 15.85% 26.03% 21.11% 5.13% 15.06% 9.77% 4.78% 7.46% 4.32% Return on Asset 0.03 0.04 0.07 Return on Equity 0.11 0.40 0.22 How many of the following statements are correct? o The company is more aggressively financed than the industry norm. o The company's current ratios are higher than the industry norm due to a struggle to collect cash from credit sales. o The drop in the net margin o The firm's operation is not as cost efficient as the industry norm in 2012. the industry 'the firm may b ue to a lov ice competitor appearing 2 3 04