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Check my work Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decine
Check my work Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decine in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Dedine in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Sales $ Current Year S 745.000 Current Year % Prior Year $ Prior Year % 100.0 $ 655,000 1000 Cost of goods sold 560 000 130 291,000 Gross prot 185.000 364.000 Operating expenses 120.000 260,000 Net income $ 57.000 $ 104,000 Reason for Decline in Net Income >
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