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FINC 3400- Corporate Finance- Summer 2022 Homework: HW #3 - Chapter 3B Question 3, P3-19 (similar to Part 1 of 2 HW Sco: 21.0%, 6.36 of 41 po O Points:07 Common-size statement analysis A common size income statement for Creek Enterprises 2018 sperations the 2019 common-size income statement and compare it to the 2018statement which was require tutte ante and inves thing the s Complete the common-size income statement for the year ending December 31, 2019 and compes the common se ce Round to one decimal place) Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2018 and December 2010 2010 2016 Saios revenue Less Cost of goods sold Cleara Etext pages Get more help. View an example O = Type here to search # #07 onda jackson 01/28/225:04 PM Save 0 of 7 Save Common-size statement analysis A common-size income statement for Creek Enterprises 2018 operations follows the 2019 common-size income statement and compare it to the 2018statement. Which areas require further analysis and investigation? Using the firm's 2019 income statement develop COS Complete the common-size income statement for the year ending December 31, 2019 and compare it to the common-size income statement for the year ending December 2018, (Round to one decimal place) Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2018 and December 2019 2019 2018 100,0% Sales revenue 65.7 Less Cost of goods sold Common-size statement analysis A common-size income statement for Creek Enterprises 2018 operations follows Using the firm's 20 the 2019 common-size income statement and compare it to the 2018statement. Which areas require further analysis and investigation? Less: Cost of goods sold 65./ Gross profits % 34.3 % Less: Operating expenses Selling expense % 12.7 % 6.5 General and administrative expenses 0.6 Lease expense 3.6 Depreciation expense 23.4 Total operating expense 5 Common-size statement analysis A common-size income statement for Creek Enterprises 2018 operations follows Using the firm's 2019 income statement, dew the 2019 common-size income statement and compare it to the 2018statement. Which areas require further analysis and investigation? KEE 3.D Depreciation expense Total operating expense Operating profits 234 10.9% Less Interest expense 18. Net profits before taxes 91% Less Taxes (rate = 40 %) 36 55% Net profits after taxes 02 Less Proferred stock dividends Check answe View an example Etext pages Get more help. Clear all points O Points: 0 of 7 Common-size statement analysis A common-size income statement for Creek Enterprises 2018 operations follows the 2019 common-size income statement and compare it to the 2018statement Which areas require further analysis and investigation? Using the firm's 2019 income statement Total operating expense Operating profits 234 10.9% % Less Interest expense 18 Net profits before taxes % 9.1% Less Taxes (rate=40%) 36 Net profits after taxes 55% 02 Less: Preferred stock dividends 53% Earnings available for common stockholders Creek Enterprises Income Statement for the Year Ended December 31, 2018 Sales revenue ($34,967,000) Less: Cost of goods sold Gross profits Less: Operating expenses 12.7 % Selling expense 6.5 General and administrative expenses 0.6 Lease expense 3.6 Depreciation expense Total operating expense Operating profits 100.0 % 65.7 34.3 % 23.4 10.9 % General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate = 40%) Net profits after taxes Less: Preferred stock dividends Earnings available for common stockholders 6.5 603 566 0.6 3.6 23.4 10.9 % 1.8 9.1 % 3.6 5.5% 0.2 5.3% Creek Enterprises Income Statement for the Year Ended December 31, 2019 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense $2,975,000 General and administrative expenses 1,843,000 Lease expense 232,000 988,000 Depreciation expense Total operating expense $29,960,000 20,992,000 $8,968,000 6,038,000 Seming expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate = 40%) Net profits after taxes Less: Preferred stock dividends Earnings available for common stockholders 32,975,000 1,843,000 232,000 988,000 6,038,000 $2,930,000 1,015,000 $1,915,000 766,000 $1,149,000 95,000 $1,054,000