Common-size statement analysis A common-size income statement for Creek Enterprises' 2018 operations follows Using the firm's 2019 income statement develop the 2019 common-size income statement and compare it to the 2018statement. Which areas require further analysis and investigation? 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 % 100.0 % 66.1 70.2 29.8% 33.9% 12.9% % Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total conting and 6.0 0.5 3.7 23:1 Enter any number in the edit fields and then click Check Answer Clear All Check Answer Ulu HW Score: 19.16%, 7.86 of 41 pc Score: 0 of 7 an Homework: HW #3- Chapter 3B Question 3, P3-19 (simila... Part 1 of 2 Common-size statement analysis A common-size income statement for Creek Enterprises' 2018 operations allows Using the firm's 2019 income statement develop the 2019 common-size income statement and compare it to the 2018 statementWhich areas require further analysis and investigation? 33.9% 29.8% 12.9% % 6.0 0.5 3.7 23.1 % Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Loss: Interest expense Net profits before taxes Less: Taxes (rate=40%) Net profits after taxes Less: Preferred stock dividends Earnings available for common stockholders 10.8 % 1.6 9.2% % 3.7 5.5 % 0.2 5.3 % Enter any number in the edit fields and then click Check Answer Clear All Check Answer Get More Help - Data Table e spreadsheet.) Creek Enterprises Income Statement for the Year Ended December 31, 2019 $29,963,000 Sales revenue 21,027,000 Less: Cost of goods sold Gross profits $8,936,000 Less: Operating expenses Selling expense $2,986,000 General and administrative expenses $1,750,000 Lease expense 184,000 Depreciation expense 1,022,000 Total operating expense 5,942,000 Operating profits $2,994,000 Less: Interest expense 989,000 Net profits before taxes $2,005,000 Less: Taxes (rate = 40%) 802,000 Net profits after taxes $1,203,000 Less: Preferred stock dividends 148,000 Earnings available for common stockholders $1,055,000 Del Toy od Les Nel Les Nel Les El Print Done Entd Data Table 100.0 66.1 33.99 (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Creek Enterprises Income Statement for the Year Ended December 31, 2018 Sales revenue ($34,950,000) Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense 12.9 % General and administrative expenses 6.0 Lease expense 0.5 Depreciation expense 3.7 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 23.1 10.8 1.6 9.29 3.7 5.5 0.2 el 5.3. e