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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
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 $ 720,000 $ 660,000 Cost of goods sold 570,800 297,600 Gross profit 149,200 362,400 Operating expenses 128,000 225,200 Net income $ 21,200 $ 137,200 Has the company's situation improved in the most recent year? Yes No
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