Common-size statement analysis A common-size income statement for Creek Enterprises' operations follows LOADING Using the firm's income statement LOADING..., develop the common-size income statement and compare it to the statement. Which areas require further analysis and investigation? Complete the common-size income statement for the year ending December 31, and compare it to the common-size income statement for the year ending December : (Round to one decimal place.) Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2018 and December 2019 2019 2018 Sales revenue 100.0 % 100.0 % Less: Cost of goods sold 70.1 66.4 Gross profits 29.9 % 33.6 % Less: Operating expenses Selling expense % 12.2 % General and administrative expenses 6.5 Lease expense 0.3 Depreciation expense 3.6 Total operating expense 22.6 Operating profits % 11.0 % Less: Interest expense 1.0 Net profits before taxes % 10.0 % Less: Taxes (rate = 40%) 4.0