Check my 2 Exercise 17-4 (Algo) Computing and interpreting common-size percents LO P2 Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most 12 points responsible for the decline in net income? Complete this question by entering your answers in the tabs below. eBook Income Reason for Decline in Net Statement Income Hint Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Print GOMEZ CORPORATION Comparative Income Statements In For Years Ended December 31 References Current Year $ Current Year % Prior Year $ Prior Year % Sales $ 750,000 $ 690,000 Cost of goods sold 562,700 299,800 Gross profit 187,300 390,200 Operating expenses 129,200 250,400 Net income $ 58, 100 $ 139,800 Income Statement Reason for Decline in Net Income