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Express the following comparative Income statements in common-size percents. (Round your percentage answers to 1 decimal place.) 10 points eBook GOMEZ CORPORATION Comparative Income Statements

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Express the following comparative Income statements in common-size percents. (Round your percentage answers to 1 decimal place.) 10 points eBook GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 % Sales $750,000 $ 695,000 Cost of goods sold 570,800 297,600 Gross profit 189,200 397,400 Operating expenses 128,000 250,400 Net income $ 61,200 $147,000 Him References Has the company's situation improved in the most recent year? Yes No

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