Exercise 13-4 Computing and interpreting common-size percents LO P2 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 Express the following comparative income statements in common-size percent. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year 765.000: S 8700001 Cost of goods sold SA 400 252 2001 179.000 387,300 Gross profit Operating expenses Netcome 130.4001 49 200 248.000 130.3001 5 5 Reason for Decline in Net Income >