Seved Help Save & Exit Check 2 The condensed statements of Independent Auto Inc. follow 10 Doints Independent Auto Inc. Income SEACRE (1000) For Year Ended December 31 2020 2015 Het sales $209, 100 $392,600 Coat of goods sold 125,204 119.550 Gross profit from anles 173,050 Selling expenses 5 2050 326, 605 Administrative expenses 10,953 26,975 Total operating expenses 5.40,550 LEDO Pratit before taxes 33,576 5:19,470 Income taxes 6,753 6.137 Profit $ 28,825 5 13,333 eBoo 2018 $167.100 106.27 51627223 22130 13.049 5:35,985 325339 5,203 $ 19,934 Deferences 2010 Independent Auto Ine. Balance Sheet (5000) December 31 2020 2019 Assets Current Sets $ 35,036 427,647 Bon-strategie investments 570 Plant and equipment.net 65,200 62.100 Total dat $100,236 $97.617 Liabilities and Equity Current liabilities $ 19,690 $25,522 share 5 on $36,554 3,154 42,100 $53,800 $14,186 40 Finn Chech Current liabilities Common shares Retained earnings Total liabilities and equity $ 14,690 58.900 26, 646 $100,236 $14,522 58,900 24, 195 $97,617 $14,186 44,200 23, 422 $81,808 Required: 1. Calculate each year's current ratio (Round the final answers to 1 decimal place.) December 31, 2020 December 31, 2019 December 31, 2018 Current ratios to 1 to 1 to 1 2 Express the income statement data in common-size percentages. (Round your final percentage answers to 2 decimal places.) uue ved Help Save & Exit Submi Check my work 2 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 2020 2019 2018 ok ences Net sales Cost of goods sold Gross profit from sales Selling expenses Administrative expenses Total operating expenses Profit before taxes Income taxes Profit 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 2020 2019 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