Exercise 17-4 Common-size percent computation and interpretation LO P2

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, 2017 and 2016 2017 2016 Sales Cost of goods sold Gross profit Operating expenses Net income $ 760,000 568,100 191,900 129,200 $ 62,700 $ 695,000 288,800 406,200 279,200 $127,000