Common-size statement analysis a common-size income statement for Crook 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 % 100.0 % 654 % 34.6% % 12.4% Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Seling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits 6.4 06 3.7 23.1 11.5% Observe the modified DuPont formula (sce ) and notice that each component can be compared with industry standards to assess the firm's performance Therefore, the advantage of using the Dupont system is that ROE is broken into three distinct components. Starting at the right we see how has increased assets over the owners' original equity Next moving to the left we see how efficiently the firm used its to generate sales. Finally, the shows the measure of profitability on sales Common-size statement analysis a common-size income statement for Crook 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 % 100.0 % 654 % 34.6% % 12.4% Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Seling expense General and administrative expenses Lease expense Depreciation expense Total operating expense Operating profits 6.4 06 3.7 23.1 11.5% Observe the modified DuPont formula (sce ) and notice that each component can be compared with industry standards to assess the firm's performance Therefore, the advantage of using the Dupont system is that ROE is broken into three distinct components. Starting at the right we see how has increased assets over the owners' original equity Next moving to the left we see how efficiently the firm used its to generate sales. Finally, the shows the measure of profitability on sales