The condensed statements of Independent Auto Inc. follow: Independent Auto Inc. Income Statement ($800) For Years Ended December 31 2020 2019 2018 Net sales $210,500 $193,700 $168,500 Cost of goods sold 125,559 119,825 106,553 Gross profit from sales $ 84,941 $ 73, 875 $ 61,947 Selling expenses $ 29,752 $ 26,770 $ 22, 301 Administrative expenses 19,061 27,085 13,959 Total operating expenses $ 48,813 $ 53,855 $ 36,260 Profit before taxes $ 36,128 $ 20,020 $ 25,687 Income taxes 6,918 6,302 5,368 Profit $ 29,210 $ 13,718 $ 20,319 Independent Auto Inc. Balance Sheet ($000) December 31 2020 2019 2018 Assets Current assets $ 35,586 $28,197 $37,104 Non-strategic investments 680 3,429 Plant and equipment, net 66,300 70,500 43,200 Total assets $101,886 $99,377 $83,733 Liabilities and Equity Current liabilities $ 14,965 $14,797 $14,461 Common shares 60,000 60,000 45,300 Retained earnings 26,921 24,580 23,972 Total liabilities and equity $101,886 $99,377 $83,733 Required: 1. Calculate each year's current ratio. (Round the final answers to 1 decimal place.) December 31, 2020 December 31, 2019 December 31, 2018 Current ratios to 1 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.) 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 liabilities Common shares Retained earnings Total liabilities and equity