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 Reason for Statement Decline in Net Income 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 Current Year Prior Year S % $ % Sales $ 735,000 $ 670,000 Cost of goods sold 562,700 280,000 Gross profit 172,300 390,000 Operating expenses 129,200 278,000 Net income $ 43,100 $ 112,000Income Reason for Statement Decline in Net Income Using the common-size percentages, which item is most responsible for the decline in net income