Comparative financial statements for Chevron Corporation for the years ended December 31, 2023, 2022, and 2021 are given below.

Chevron Corporation Comparative Income Statements	2023	2022	2021
Sales	$1,200,000,000	$1,100,000,000	$1,000,000,000
Cost of goods sold	$720,000,000	$660,000,000	$600,000,000
Gross profit	$480,000,000	$440,000,000	$400,000,000
Operating expenses	$240,000,000	$220,000,000	$200,000,000
Income from operations	$240,000,000	$220,000,000	$200,000,000
Interest expense	$24,000,000	$22,000,000	$20,000,000
Income before taxes	$216,000,000	$198,000,000	$180,000,000
Income tax expense	$64,800,000	$59,400,000	$54,000,000
Net income	$151,200,000	$138,600,000	$126,000,000

Chevron Corporation Comparative Balance Sheets	2023	2022	2021
Assets
Current assets	$240,000,000	$220,000,000	$200,000,000
Long-term investments	$320,000,000	$300,000,000	$280,000,000
Property and equipment, net	$640,000,000	$600,000,000	$560,000,000
Total assets	$1,200,000,000	$1,120,000,000	$1,040,000,000
Liabilities and Equity
Current liabilities	$200,000,000	$190,000,000	$180,000,000
Long-term debt	$500,000,000	$460,000,000	$420,000,000
Common stock	$300,000,000	$290,000,000	$280,000,000
Retained earnings	$200,000,000	$180,000,000	$160,000,000
Total liabilities and equity	$1,200,000,000	$1,120,000,000	$1,040,000,000

Requirements:

1. Convert the income statement data to common-size percentages for each year.
2. Convert the balance sheet data to common-size percentages for each year.
3. Calculate Chevron’s current ratio and quick ratio for the three years.
4. Analyze the trend in Chevron’s operating profit margin and net profit margin.