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 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.) 100.0 % 66.2 33.8% % Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2018 and December 2019 2019 2018 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Selling expense 13.0% General and administrative expenses 6.5 Lease expense 0.6 Depreciation expense 3.5 Total operating expenso Operating profits Less: Interest expense Net profits before taxes % Less: Taxes (rate.21%) Net profits after taxes Less: Preferred stock dividends Earnings avuitable for common stockholders 236 10.2% 1.7 8.5% 1.8 6.7% 02 6.5% 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 $29,988,000 Less: Cost of goods sold 21.035,000 Gross profits $8,953,000 Less: Operating expenses Selling expense $3,047,000 General and administrative expenses 1,816,000 Lease expense 243,000 Depreciation expense 962,000 Total operating expense 6,068,000 Operating profits $2,885,000 Less: Interest expense 968,000 Net profits before taxes $1.917.000 Less: Taxes (rate -21%) 402.570 Net profits after taxes $1,514,430 Less: Preferred stock dividends 98.000 Earnings available for common stockholders $1,416,430 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, 2018 Sales revenue ($35,048,000) 100.0 % Less: Cost of goods sold 66.2 Gross profits 33.8 % Less: Operating expenses Selling expense 13.0 % General and administrative expenses 6.5 Lease expense 0.6 Depreciation expense 3.5 Total operating expense 23.6 Operating profits 10.2 % Less: Interest expense 1.7 Net profits before taxes 8.5 % Less: Taxes (rate=21%) 1.8 Net profits after taxes 6.7 % Less: Preferred stock dividends 0.2 Earnings available for common stockholders 6.5 %