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? Reason for Income Decline in Net Statement Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) points (8 01:26:04 GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % $ 735,000 $680,000 568,100 297,600 166,900 382,400 Sales Cost of goods sold Gross profit Operating expenses Net income 130,400 36,500 222,800 $ 159,600 $ Income Statement Reason for Decline in Net Income 23 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 12 points Using the common-size percentages, which item is most responsible for the decline in net income? (8 01:25:58