From the information about Vargas Corporation in Figures 22.16 and 22.17, do the following:
a. For each year calculate its current ratio and acid test ratio.
b. For each year prepare the comparative income statement in common-size percentages. (Round to the nearest tenth of a percent.)
c. Prepare a trend analysis of the balance sheet using 2020 as the base year. (Round to the nearest percent.)

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Net Sales Cost of Goods Sold Gross Profit from Sales VARGAS CORPORATION COMPARATIVE INCOME STATEMENT FOR YEARS ENDED DECEMBER 31, 2022, 2021, 2020 Operating Expenses: Selling General and Administrative Total Operating Expenses Operating Income Before Taxes Income Taxes Net Income 2022 $600 0 0 00 1800000 $4200000 2021 2020 $40 0 0 0 00 $50 0 0 0 00 1960000 2000000 $20 40000 $30|0|0|0|00| $ 150 000 $ 250000 $ 200000 2000001 $ 400000 $ 2600000 50000 $25 500 00 450000 $ 600000 $3600 0 00 70000 $35 3 0 0 00 100000 $ 350000 $ 16 90000 50000 $1640000