4 Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? nts Answer is complete but not entirely correct. Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage ans place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $ $725,000 100.0 100.0 650,000 Cost of goods sold 568,100 77.6 X 284,400 42.1 x Gross profit 156,900 22.4 X 365,600 57.9 X Operating expenses 130,400 17.7 X 243,200 18.6 X $ Net income $ 26,500 4.7 18.6 122,400