The following selected information is available for Danier Leather Inc. for three fiscal years (in thousands):

Instructions
(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.

Transcribed Image Text:

2012 60,965 58,948 11,748 2011 2010 54,836 17,958 Current assets Current liabilities Revenue Cost of goods sold Profit 12,838 148,219 157,621 164,217 71,352 7,568 71,513 77,438 7,219 4,003