Exercise 13-4 (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 responsible for the decline in net income? Answer is not complete. Complete this question by entering your answers in the tabs below. Reason for Income 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 $795,000 100.0 650,000 Cost of goods sold 568,100 71.3 299,800 Gross profit 226,900 28.7350,200 Operating expenses 130,400 16.5 257,600 Net income $ 96,500 12.2$ 92,600