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A common size income statement for Creek Enterprises 2018 operations follows. Using the firms 2019 income statement presented in 3-16, develop the 2019 common size

A common size income statement for Creek Enterprises 2018 operations follows. Using the firms 2019 income statement presented in 3-16, develop the 2019 common size income statement and compare it with the 2018 statement. (I don't know how to get the answers for the 2019 common size income statement)

2018 common size income statement:

Sales Revenue ($35,000,000) 100%
Less: Cost of goods sold 65.9
Gross Profits 34.1
Less: Operating expenses
Selling expense 12.7%
General and administrative expenses 6.3
Lease expense 0.6
Depreciation expense 3.6
Total operating expense 23.2%
Operating profits 10.9%
Less: Interest expense 1.5
Net profits before taxes 9.4%
Less: Taxes (rate=40%) 3.8
Net profits after taxes 5.6%
Less: Preferred stock dividends 0.1
Earnings available for common stockholders 5.5%

3-16 Income Statement:

Sales Revenue 30,000,000
Less: cost of goods sold 21,000,000
gross profits 9,000,000
Less: operating expenses
selling expense 3,000,000
general and administrative expenses 1,800,000
Lease expense 200,000
Depreciation expense 1,000,000
total operating expense 6,000,000
operating profits 3,000,000
less:interest expense 1,000,000
net profits before taxes 2,000,000
Less: taxes (rate=40%) 800,000
net profits after taxes 1,200,000
Less: preferred stock dividends 100,000
Earnings available for common stockholders 1,100,000

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