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 $ % $ % Sales $ 765,000 $ 670,000 Cost of goods sold 568,100 282,200 Gross profit 196.900 387,800 Operating expenses 129.200 232.400 Net income $ 67,700 $ 155,400 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 ak Using the common-size percentages, which item is most responsible for the decline in net incomo? Income Statement Reason for Decline in Net ences Cost of goods sold Operating expenses Sales