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? Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents, (Round your percentage answers to decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ Sales Cost of goods sold Gross profit $ 800,000 $630,000 562,700 280,000 237,300 350,000 Operating expenses 128,000 226,400 Net income $ 109,300 $123,600 < Prev 20 of 22 Next >