Express the following comparative income statements in common$-$size percents. Using the common$-$size percents, which item is most responsible for the decline in net income?

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Income$],[$Statement$]]$

$\backslash$table$[[$Reason for$],[$Decline in Net$],[$Income$]]]]$

Express the following comparative income statements in 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$,$$$,775,000,,$$$,650,000,],[$Cost of goods sold,,$565,400,,,280,000,],[$Gross profit,,$209,600,,,370,000,],[$Operating expenses,,$129,200,,,255,200,],[$Net income,$$,80,400,,$$$,114,800,]]$

Income Statement

Reason for Decline in Net Income