The condensed statements of Independent Auto Inc. follow: Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit Independent Auto Inc. Income Statement ($000) For Years Ended December 31 2020 $208,900 2019 $192,100 2018 $166,900 125,159 119,425 106,153 $ 83,741 $ 72,675 $ 60,747 $ 29,512 $ 26,530 18,901 $ 48,413 $ 53,455 $ 22,061 26,925 13,799 $ 35,860 $ 35,328 $ 19,220 6,062 $ 28,650 $ 13,158 6,678 5,128 $ 24,887 $ 19,759 Independent Auto Inc. Balance Sheet (3000) December 31 2020 2019 2018 Total assets Assets Current assets Non-strategic investments Plant and equipment, net Liabilities and Equity Current liabilities $34,786 0 $27,397 $36,304 64,700 $99,486 520 68,900 $96,817 3,029 41,600 $80,933 $14,565 $14,397 $14,061 Common shares 58,400 Retained earnings 58,400 43,700 26,521 24,020 23,172 Total liabilities and equity $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 December 31, 2019 to 1 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