The condensed statements of Independent Auto Inc. follow: Net sales Independent Auto Inc. Income Statement ($000) For Years Ended December 31 2020 $208,900 125,159 2019 $192,100 119,425 2018 $166,900 Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit $ 83,741 $ 72,675 $ 29,512 $ 26,530 106,153 $ 60,747 $ 22,061 18,901 26,925 13,799 $ 48,413 $ 53,455 $ 35,328 $ 19,220 $ 35,860 $ 24,887 6,678 6,062 5,128 $ 28,650 $ 13,158 $ 19,759 Independent Auto Inc. Balance Sheet ($000) December 31 Assets Current assets Non-strategic investments Plant and equipment, net Total assets Liabilities and Equity Current liabilities 2020 2019 2018 $34,786 0 64,700 $27,397 520 68,900 $36,304 3,029 41,600 $99,486 $96,817 $80,933 $14,565 $14,397 $14,061 Current liabilities Common shares Retained earnings Total liabilities and equity $14,565 $14,397 $14,061 58,400 58,400 43,700 26,521 24,020 23,172 $99,486 $96,817 $80,933 Required: 1. Calculate each year's current ratio. (Round the final answers to 1 decimal place.) Current ratios December 31, 2020 to 1 December 31, 2019 to 1 December 31, 2018 to 1 2. Express the income statement data in common-size percentages. (Round your final percentage answers to 2 decis INDEPENDENT AUTO INC. Common-Size Comparative Income Statement (in %) For Years Ended December 31, 2020. 2019, and 2018 Net sales Cost of goods sold 2020 Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit 2019 2018- O < Prev % 25 54 D R T 2 of 4 Can Next >> 27 B PO E o EXPE 10-> FID PIZ Prisc Temps Ex Sport 96 7 8 2 60 9 3 0 1/4 1/2 3/4 Y U 4 P F G