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Income

Reason for Statement

Decline in Net Income

Express the following comparative income statements o common$-$size percents.

Note: Round your percentage answers to $1$ decimal place.

$\backslash$table$[[$GOMEZ CORPORATION$],[$Comparative Income Statements$],[$For Years Ended December $31],[,,$Year $$,$Current Year $\%,,$Year $$,$Prior Year $\%],[$Sales$,$$$,730,000,,,685,000,],[$Cost of goods sold,,$562,700,,,299,800,],[$Gross profit,,$167,300,,,385,200,],[$Operating expenses,,$129,200,,,267,200,],[$Net income,$$,38,100,,$$$,118,000,]]$

Income Stetament

Reason for Decline in Net Income