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

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.
(c) Compare the 2015 ratios calculated in part (a) with the following industry averages: current ratio 1.2:1; gross profit margin 16.3%; and profit margin 2.5%. Are Volvo's ratios better or worse than those of its industry?

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20152014 2013 Current assets 170,687 177,302 163,612 Current liabilities 155,860 136,393 140,316 Net sales Cost of goods sold 240,653 220,012 212,504 Net income 312,515 282,948 272,622 15,099 2,235 3,802