Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? 12 Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) s GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales Cost of goods sold Gross profit $ 760,000 $680,000 570,800 291,000 189,200 389,000 Operating expenses 129,200 257,600 Net income $ 60,000 $131,400 < Income Statement Reason for Decline in Net Income >