Selected comparative financial statement information of Sawgrass Corporation follows

Required
1. Compute each year€™s current ratio. (Round ratio amounts to one decimal.)
2. Express the income statement data in common-size percents. (Round percents to two decimals.)
3. Express the balance sheet data in trend percents with 2010 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any significant relations revealed by the ratios and percentscomputed.

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SAWGRASS CORPORATION Comparative Income Statements For Years Ended December 31, 2012,2011, and 2010 2011 2010 Sales... $199,800 $167,000 $144.800 Cost of goods sold7977600 Gross profit . . .. Selling expenses.. Administrative expenses1770 Total expenses .*.. Income before taxes.. 09,890 87,175 67.200 89,910 67,200 79,825 23,680 20,790 19,000 17760 15,610 16,700 41,440 48.470 43.425 41,900 36.400 35,700 Income taxes 5.050 4.910 4,300 Net income. $43.420 38,515 $37,600 SAWGRASS CORPORATION Comparative Balance Sheets December 31,2012,2011, and 2010 2011 2010 Assets Current assets. Long-term investments. Plant assets, net Total assets $ 55,860 33,660 37.300 0 2700 1.600 113,810 14,660 80,000 $169,670 $151,020 $128,900 .. Liabilities and Equity Current labilities Common stock Other pald-In capital. Retained earnings Total liabilities and equity-… … 23,370 20,180 $ 17,500 47,500 47,500 38,000 14,850 14,850 2,300 83,950 68.490 61,100 $169,670 $151,020 $128.900