1 10 points Independent Auto Inc. Income Statement ($900) For Years Ended December 31 2020 Net sales $ 210,200 Cost of goods sold 125,484 Gross profit from sales $ 84,716 Selling expenses $ 29,707 Administrative expenses 19,031 Total operating expenses $ 48,738 Profit before taxes $ 35,978 Income taxes 6,873 Profit $ 29,105 2019 $193,480 119,750 $ 73,650 $ 26,725 27,055 $ 53,780 $ 19,870 6,257 $ 13,613 2018 $168,280 106,478 $ 61,722 $ 22,256 13,929 $ 36,185 $ 25,537 5,323 $ 20,214 eBook Print References Independent Auto Inc. Balance Sheet (5000) December 31 2020 2019 2018 Assets $ 35,436 66,000 $101,436 $28,047 650 70,200 $98,897 $36,954 3,354 42,900 $83,208 Current assets Non-strategic investments Plant and equipment, net Total assets Liabilities and Equity Current liabilities Common shares Retained earnings Total liabilities and equity $ 14,890 59,700 26,846 $ 101,436 $14,722 59,700 24,475 $98,897 $14,386 45,000 23,822 $83,208 Che 2. Express the income statement data in common-size percentages. (Round your final percentage answers to 2 decimal pinces) Net sales INDEPENDENT AUTO INC Common-Size Comparative Income Statement (in %) For Years Ended December 31, 2020, 2019, and 2018 2020 2019 2018 100.00 100.00 100.00 Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit 3. Express the balance sheet data in trend percentages with 2018 as the base year (Round your final percentage answers to 2 decimal places.) INDEPENDENT AUTO INC Balance Sheet Data in Trend Percentages (in %) December 31, 2020,2019, and 2018 2020 2019 2018 Assets Current assets Non-strategic investments Plant and equipment net Total assets Liabilities and Equity Current labilities Common shares Retained earnings Total liabilities and equity