Homework: Chapter 3 Homework Question 9, P3-20 (simile... Part 1 of 2 HW Score: 41.93%, 5.03 of 12 points O Points: 1 of 1 Save Common-size statement analysis A common-size income statement for Creek Enterprises' 2014 operations follows B. Using the firm's 2015 income statement B, develop the 2015 common-size income statement and compare it to the 2014 statement. Which areas require further analvsis and investication? Complete the common-size Income statement for the year ending December 31, 2015 and compare it to the common-size Income statement for the year ending December 2014: (Round to one decimal place.) FERIE X Data Table : Creek Enterprises Common-Size Income Statement - for the Years Ended December 31, 2014 and December 2015 2015 2014 Sales revenue 100.0 % 65.5 % % 34.5 % Less: Cost of goods sold Gross profils Less: Operating expenses Selling expense General and administrative expenses % 12.5% 6.4 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Creek Enterprises Income Statement for the Year Ended December 31, 2014 Sales revenue ($35,048,000) 100.0 % Less: Cost of goods sold 65.5 Gross profils 34.5 % Less: Operating expenses Selling expense 12.5% General and administrative expenses 6.4 Lease expense 0.5 Depreciation expense 3.5 Total operating expense 22.9 Operating profits 11.6 % Less: Interest expense 1.6 Net profits before taxes 10.0 % Less: Taxes (rate = 40%) 4.0 Net profits after taxes 6.0 % Less: Preferred stock dividends 0.2 Earrings available for common stockholders 5.8 % 0.5 3.5 22.9 % Lease expense Depreciation expense Total operating expense Operating profits Less: Interest expense Net profits before taxes Less: Taxes (rate=40%) Net profits after taxes : 18 11.6 % 1.6 % 10.0 % 4.0 6.0 % Help Me Solve This View an Example Get More Help Print Done Print Done 3 Homework: Chapter 3 Homework Question 9, P3-20 (simila... Part 1 of 2 HW Score: 41.93%, 5.03 of 12 points O Points: 0 of 1 Save Common-size statement analysis A common-size income statement for Creek Enterprises' 2014 operations follows Using the firm's 2015 income statement develop the 2015 common-size income statement and compare it to the 2014 statement. Which areas require further analysis and investigation? - Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2014 and December 2015 , -X Data Table 2015 2014 Sales revenue 100.0 % Less: Cost of goods sold 65.5 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Gross profits % 34.5 % Creek Enterprises Income Statement for the Year Ended December 31, 2015 Less: Operating expenses Sales revenue $29.979,000 Selling expense x 12.5% Less: Cost of goods sold 20,967 000 General and administrative expenses 6.4 Gross profits S9,012.000 Less: Operating expenses Lease expense 0.5 Selling expense 53 008,000 Depreciation expense 3.5 General and administrative expenses 1,835,000 174.000 Lease expense Total operating expense 22.9 Depreciation expense 962.000 Operating profits % 11.6 % Total operating expense 5,979,000 Less: Interest expense 1.6 Operating profits S3.033.000 Less: Interest expense 971.000 Net profits before taxes % 10.0 % Net profits before taxes S2,062,000 4.0 Less: Taxes (rate = 40%) Less: Taxes (rate=40%) 824.800 Net profits after taxes % 6.0 % Net profits aflor taxes S1,237 200 Less: Preferred stock dividends 82.000 Less: Preferred stock dividends 0.2 Earnings available for common stockholders S1.155.200 Earnings available for common stockholders 5.8 % **** 90 Help Me Solve This View an Example Get More Help Print Done Done