Comparative financial statements for Coca-Cola Company for the years ended December 31, 2023, 2022, and 2021 are given below.

Coca-Cola Company Comparative Income Statements	2023	2022	2021
Sales	$450,000,000	$420,000,000	$390,000,000
Cost of goods sold	$270,000,000	$252,000,000	$234,000,000
Gross profit	$180,000,000	$168,000,000	$156,000,000
Operating expenses	$90,000,000	$84,000,000	$78,000,000
Income from operations	$90,000,000	$84,000,000	$78,000,000
Interest expense	$9,000,000	$8,400,000	$7,800,000
Income before taxes	$81,000,000	$75,600,000	$70,200,000
Income tax expense	$24,300,000	$22,680,000	$21,060,000
Net income	$56,700,000	$52,920,000	$49,140,000

Coca-Cola Company Comparative Balance Sheets	2023	2022	2021
Assets
Current assets	$90,000,000	$85,000,000	$80,000,000
Long-term investments	$120,000,000	$110,000,000	$100,000,000
Property and equipment, net	$180,000,000	$170,000,000	$160,000,000
Total assets	$390,000,000	$365,000,000	$340,000,000
Liabilities and Equity
Current liabilities	$60,000,000	$55,000,000	$50,000,000
Long-term debt	$120,000,000	$110,000,000	$100,000,000
Common stock	$100,000,000	$100,000,000	$100,000,000
Retained earnings	$110,000,000	$100,000,000	$90,000,000
Total liabilities and equity	$390,000,000	$365,000,000	$340,000,000

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 Coca-Cola’s current ratio and quick ratio for the three years.
4. Analyze the trend in Coca-Cola’s gross profit margin and operating profit margin.