Question: Exercise 13-4 Common-size percent computation and interpretation LO P:2 Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 de

Exercise 13-4 Common-size percent computation and interpretation LO P:2 Express the

Exercise 13-4 Common-size percent computation and interpretation LO P:2 Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 de place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 $ 695,000 Sales Cost of goods sold Gross profit $ 735,000 568,100 166,900 130,400 S 36,500 M295400 399,600 232.400 S167.200 Net income Has the company's situation improved in the most recent year? o Yes No

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