Question 12 [14 points] A company has prepared the following common-size analysis on its income statement: Sales revenue, Cost of goods sold. Gross profit Operating expenses Income from operations Interest expense Rent revenue 2020 2019 100% 100% 67% 61% 33% 39% 12% 15% 21% 24% 6% 4% 3% 2% Income before tax 18% 22% 4% 4% Income tax Net income 14% 18% Discuss any negative variances in this analysis, and identify what further information you would need to advise the company on how to improve its performance. Question 12 11 polatl MacBook Air