The condensed statements of Independent Auto Inc. follow: Independent Auto Inc. Income Statement ($000) For Years Ended December 31 2020 2019 Net sales $209,200 $ 192,400 Cost of goods sold 125,234 119,500 Gross profit from sales $ 83,966 $ 72,900 Selling expenses $ 29,557 $ 26,575 Administrative expenses 18,931 26,955 Total operating expenses $ 48,488 $ 53,530 Profit before taxes $ 35, 478 $ 19,370 Income taxes 6,723 6,107 Profit $ 28,755 $ 13,263 2018 $167,200 106,228 $ 60,972 $ 22,106 13,829 $ 35,935 $ 25,037 5,173 $ 19,864 Independent Auto Inc. Balance Sheet ($000) December 31 2020 2019 2018 $ 34,936 0 65,000 $99,936 $27,547 550 69,200 $97,297 $36, 454 3,104 41,900 $81,458 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 $14,640 58,700 26,596 $99,936 $14,472 58,700 24,125 $97,297 $14,136 44,000 23, 322 $81,458 Required: 1. Calculate each year's current ratio. (Round the final answers to 1 decimal place.) Current ratios to 1 December 31, 2020 December 31, 2019 December 31, 2018 to 1 to 1 2. Express the income statement data in common-size percentages. (Round your final percentage answers to 2 decimal places.) INDEPENDENT AUTO INC. Common-Size Comparative Income Statement (in %) For Years Ended December 31, 2020, 2019, and 2018 2020 2019 2018 Net sales 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.) DETEC Balance Sheet Data in Trand Percentages (in %) December 31, 2020. 2018, and 2018 2020 2019 2018 Assets Current assets Non-strategic investments Plant and equipment, net Total assets Liabilities and Equity Current liabilities ommon shares etained earnings ral liabilities and equity