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 staternent and compare it to the . 2018statement. Which areas require further analysis and Investigation? Data table Common-Size Income Statement for the Years Ended December 31, 2018 and December 2019 (Click on the icon located on the top-right corner of the data table below in order to copy its 2019 2018 contents into a spreadsheet.) Sales revenue % 100.0 % Creek Enterprises Income Statement for the Year Ended December 31, 2018 Less: Cost of goods sold 65.9 Sales revenue ($34,955,000) () 100.0 % Gross profils 65.9 Less: Cost of goods sold % 34.1 % Gruss profils 34.1 % Less: Operating expenses Less: Operating expenses Selling expense % 12.9% Selling expense 12.9 % General and administrative expenses 6.3 General and administrative expenses 6.3 Lease expense 0.3 Lease expense 0.3 Depreciation expense 3.6 Depreciation expense 3.6 Total operating expense 23.1 Operating profits 11.0 % Total operating expense 23.1 Less: Interest expense 1.5 Operating profits % 11.0% Net profils before taxes 9.5% 2.0 Less: Interest expense : 1.5 Less: Taxes (rate = 21%) Net profits after taxes 7.5 % Net profits before taxes % 9.5% Less: Preferred stock dividends 0.2 Less: Taxes (rate=21%) ) 2.0 Earnings available for common stockholders 7.3 % Net profits after taxes 7.5 % Less: Preferred stock dividends 0.2 Earnings available for common stockholders % 7.3 % Print Done - Data table (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 $30,032,000 Less: Cost of goods sold 20,968,000 Gross profits $9,064,000 Less: Operating expenses Selling expense $3,036,000 General and administrative expenses 1,792,000 Lease expense 182,000 Depreciation expense 997,000 Total operating expense 6,007,000 Operating profits $3,057,000 Less: Interest expense 993,000 Net profits before taxes $2,064,000 Less: Taxes (rate = 21%) 433,440 Net profits after taxes $1,630,560 Less: Preferred stock dividends 103,000 Earnings available for common stockholders $1,527,560 Print Done