The condensed statements of Independent Auto Inc. follow: Net sales Independent Auto Inc. Income Statement ($000) For Years Ended December 31 Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit 2020 $209,800 125,384 2019 $193,000 119,650 $ 73,350 2018 $167,800 106,378 $ 61,422 $ 22,196 13,889 $ 84,416 $ 29,647 18,991 $ 26,665 27,015 $ 48,638 $ 35,778 $ 53,680 $ 19,670 6,813 6,197 $ 28,965 $ 13,473 $ 20,074 $ 36,085 $ 25,337 5,263 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 Common shares Retained earnings Total liabilities and equity 2020 2019 2018 $ 35,236 0 65,600 $100,836 $27,847 610 69,800 $98,257 $36,754 3,254 42,500 $82,508 $ 14,790 $14,622 $14,286 59,300 59,300 44,600 26,746 $100,836 24,335 23,622 $98,257 $82,508 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 decimal places.) INDEPENDENT AUTO INC. Common-Size Comparative Income Statement (in %) For Years Ended December 31, 2020, 2019, and 2018 Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit 2020 2019 2018 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 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 2020 2019 2018