Exercise 17.4 Common-size percent computation and Interpretation LO P2 Express the following comparative Income statements in common size percents. (Round your percentage to 1 decimal place.) % GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 $ % 5 Sales $ 740.000 $625.000 Cost of goods sold 560,300 290.800 Gross profit 179.700 334 200 Operating expenses 128.2001 218.500 Net income $ 51,500 $ 115.700 Has the company's situation Improved in the most recent year? Yes No