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Express the following comparative income statements in common-size percents. Using the common-size percents, which item is mo responsible for the decline in net income? Complete
Express the following comparative income statements in common-size percents. Using the common-size percents, which item is mo responsible for the decline in net income? Complete this question by entering your answers in the tabs below. 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.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year % Prior Year $ Prior Year % Sales $ 640,000 Cost of goods sold Gross profit Operating expenses Net income 293,200 346,800 Current Year $ $ 755,000 568,100 186,900 128,000 $ 58,900 257,600 89,200 $ Income Statement Reason for Decline in Net Income > Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Decline in Net Income Using the common-size percents, which item is most responsible for the decline in net income? Using the common-size percents, which item is most responsible for the decline in net income?
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