XYZ Corporation has provided the following comparative financial data for the years ended December 31, 2022, 2021, and 2020.

XYZ Corporation Comparative Income Statements	2022	2021	2020
Sales	$1,200,000	$1,000,000	$800,000
Cost of goods sold	$700,000	$600,000	$450,000
Gross profit	$500,000	$400,000	$350,000
Selling expenses	$150,000	$120,000	$100,000
Administrative expenses	$80,000	$70,000	$60,000
Total expenses	$230,000	$190,000	$160,000
Income before taxes	$270,000	$210,000	$190,000
Income tax expense	$81,000	$63,000	$57,000
Net income	$189,000	$147,000	$133,000

XYZ Corporation Comparative Balance Sheets	2022	2021	2020
Assets
Current assets	$200,000	$150,000	$120,000
Long-term investments	$50,000	$40,000	$30,000
Plant assets, net	$500,000	$450,000	$400,000
Total assets	$750,000	$640,000	$550,000
Liabilities and Equity
Current liabilities	$100,000	$80,000	$70,000
Long-term liabilities	$250,000	$220,000	$180,000
Common stock	$200,000	$200,000	$200,000
Retained earnings	$200,000	$140,000	$100,000
Total liabilities and equity	$750,000	$640,000	$550,000

Requirements:

1. Calculate the common-size income statements for 2022, 2021, and 2020.
2. Calculate the common-size balance sheets for 2022, 2021, and 2020.
3. Discuss the trend in profitability over the three years.
4. Analyze the changes in the company's financial position over the three years.