Compute common-size percents for the following comparative income statements (round percents to one rpreting decimal). Using the common-size percents, which item is most responsible for the decline in net income? nts GOMEZ CORPORATION Comparative Income Statements Current Yr For Years Ended December 31 Sales ...... Cost of goods sold. Gross profit.... Operating expenses. Net income $740,000 560,300 179,700 128,200 $ 51,500 Prior Yr $625,000 290,800 334,200 218,500 $115,700 ada cold and expenses f

Compute common-size percents for the following comparative income statements (round percents to one decimal). Using the common-size percents, which item is most responsible for the decline in net income