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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 2018 statement. 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 Sales revenue 100% 100.0 % 20976000 66.1 30 % 33.9% 33.71 12 99% 6.3 Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits Less Interest expense Net profits before taxes Less: Taxes (rate = 21%) Net profits after taxes 016 3.6 29.4 10.5% 02 9.096 1.9 9% Less: Preferred stock dividends 7.1% Earnings available for common stockholders 0.2 % 69% Data Table Ye (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) MD ses Creek Enterprises Income Statement for the Year Ended December 31, 2019 Sales revenue $29,955,000 Less: Cost of goods sold 20,976,000 Gross profits $8.979,000 Less: Operating expenses Selling expense $3,024,000 General and administrative expenses 1,823,000 Lease expense 219.000 Depreciation expense 1,023.000 Total operating expense 6,089,000 Operating profits $2,890,000 Less: Interest expense 982,000 Net profits before taxes $1,908,000 Less: Taxes (rate = 21%) 400,680 Net profits after taxes $1,507,320 Less: Preferred stock dividends 130,000 Earnings available for common stockholders $1,377,320 tockh Print Done we year ending De Data Table Ye (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) ses Creek Enterprises Income Statement for the Year Ended December 31, 2018 Sales revenue ($34,957,000) 100.0 % Less: Cost of goods sold 66.1 Gross profits 33.9 % Less: Operating expenses Selling expense 12.9% General and administrative expenses 6.3 Lease expense 0.6 Depreciation expense 3.6 Total operating expense 23.4 Operating profits 10.5 % Less: Interest expense 1.5 Net profits before taxes 9.0 % Less: Taxes (rate = 21%) 1.9 Net profits after taxes 7.1 % Less: Preferred stock dividends 0.2 Earnings available for common stockholders 6.9 % ockh Print Done