Reference no: EM131953395

A common-size income statement for Creek Enterprises' 2014 operations follows LOADING.... Using the firm's 2015 income statement LOADING..., develop the 2015 common-size income statement and compare it to the 2014 statement. Which areas require further analysis and investigation Complete the common-size income statement for the year ending December 31, 2015 and compare it to the common-size income statement for the year ending December 2014: (Round to one decimal place.) Creek Enterprises Common-Size Income Statement for the Years Ended December 31, 2014 and December 2015 2015 2014 Sales revenue % 100.0 % Less: Cost of goods sold 66.0 Gross profits % 34.0 % Less: Operating expenses Selling expense % 12.2 % General and administrative expenses 6.1 Lease expense 0.5 Depreciation expense 3.6 Total operating expense 22.4 Operating profits % 11.6 % Less: Interest expense 1.7 Net profits before taxes % 9.9 % Less: Taxes (rate = 40%) 4.0 Net profits after taxes % 5.9 % Less: Preferred stock dividends 0.2 Earnings available for common stockholders % 5.7 % .