The condensed statements of Independent Auto Inc. follow: Independent Auto Inc. Income Statement ($000) For Years Ended December 31 Net sales 2020 $210,500 125,559 2019 $193,700 119,825 2018 $168,500 106,553 $ 61,947 $ 22,301 $ 84,941 $ 29,752 $ 73,875 $ 26,770 Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes 19,061 $ 48,813 $ 36,128 27,085 $ 53,855 $ 20,020 13,959 $36,260 $ 25,687 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 $37,104 Non-strategic investments 0 $28,197 680 70,500 3,429 Plant and equipment, net 66,300 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. Required: 1. Calculate each year's current ratio. (Round the final answers to 1 decimal place.) Current ratios December 31, 2020 0.6 to 1 December 31, 2019 0.5 to 1 December 31, 2018 0.8 to 1 6 2. Express the income statement data in common-size percentages. (Round your final perces 3. Express the balance sheet data in trend percentages with 2018 as the base year. (Round your fina 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