. Using the firm's 2019 income statement B , develop the 2019 common-size income statement and compare it to the Common-size statement analysis A common-size income statement for Creek Enterprises' 2018 operations follows B 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 % 66.1 33.9% Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense General and administrative expenses 12.6 % 6.5 Lease expense Depreciation expense 23.3 Total operating expense Operating profits 10.6 % 1.7 Less: Interest expense Net profits before taxes Less: Taxes (rate = 21%) Net profits after taxes Less: Preferred stock dividends 8.9 % 1.9 7.0 % 0.2 Earnings available for common stockholders 6.8 % Enter any number in the edit fields and then continue to the next question. (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, 2019 Sales revenue $29,958,000 Less: Cost of goods sold 21,016,000 Gross profits $8,942,000 Less: Operating expenses Selling expense $3,009,000 General and administrative expenses 1,823,000 Lease expense 199,000 Depreciation expense 1,012,000 Total operating expense 6,043,000 Operating profits $2,899,000 Less: Interest expense 959,000 Net profits before taxes $1,940,000 Less: Taxes (rate=21%) 407,400 Net profits after taxes $1,532,600 Less: Preferred stock dividends 102,000 Earnings available for common stockholders $1,430,600 Provide your evaluation based on the common-size income statements: (Select all the choices that apply.) I A. Operating expenses have decreased as a percentage of sales; this appears favorable unless this decline has contributed toward the fall in sales. B. Sales have declined and cost of goods sold has increased as a percentage of sales, probably due to a loss of productive efficiency. C. Selling expense has increased due to the increase in cost of goods sold. OD. The level of interest as a percentage of sales has increased significantly; this suggests that the firm has too much debt. E. Further analysis should be directed at the increased cost of goods sold and the high debt level