Common-Size Analyses Meagley Company presents the following condensed income statement and balance sheet information for 2020 and 2019. Income Statements For Years Ended December 31 2020 2019 Sales (net) $100,000 $90,000 Cost of goods sold (60,000) (51,000) Gross profit $40,000 $ 39,000 Operating expenses (21,300) (21,900) Interest revenue 1,500 1,400 Interest expense (3,700) (2,500) Income before income taxes $16,500 $16,000 Income tax expense (5,000) (4,700) Net income $11,500 $11,300 Earnings per share $1.92 $1.95