3. Express the balance sheet data in trend percentages with 2018 as the base year. (Round your final percenta decimal places.) INDEPENDENT AUTO INC. Balance Sheet Data in Trend Percentages (in %) December 31, 2020, 2019, and 2018 2020 2019 Assets Current assets Non-strategic investments Plant and equipment net Total assets Liabilities and Equity Current liabilities Common shares Retained earnings Total liabilities and equity 2018 Independent Auto Inc. Balance Sheet ($000) December 31 2020 2019 2018 Assets Current assets $34,786 $27,397 $36,304 Non-strategic investments e 520 3,029 Plant and equipment, net 64,700 68,900 41,600 Total assets $99,486 $96,817 $80,933 Liabilities and Equity Current liabilities $14,565 $14,397 $14,061 Common shares 58,400 58,400 43,700 Retained earnings 26,521 24,020 23,172 Total liabilities and equity $99,486 $96,817 $80,933 Required: 1. Calculate each year's current ratio. (Round the final answers to 1 decimal The condensed statements of Independent Auto Inc. follow: Net sales. Independent Auto Inc. Income Statement (5000) For Years Ended December 31 Cost of goods sold Gross profit from sales Selling expenses Administrative expenses 2020 $208,900 125,159 2019 $192,100 119,425 26,925 $ 83,741 $ 72,675 $ 29,512 $ 26,530 18,901 Total operating expenses Profit before taxes $ 48,413 $ 53,455 $ 35,328 $ 19,220 6,678 6,062 $ 28,650 $ 13,158 Income taxes Profit 2018 $166,900 106,153 $ 60,747 $ 22,061 13,799 $ 35,860 $ 24,887 5,128 $ 19,759 Independent Auto Inc. Balance Sheet (5000) December 31 Assets Current assets Non-strategic investments Plant and equipment, net Total assets Liabilities and Equity Current liabilities 2020 2019 2018 $34,786 $27,397 520 64,700 68,900 $36,304 3,029 41,600 $99,486 $96,817 $80,933 $14,565 $14,397 $14,061