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? Complete this question by entering your answers in the tabs below. Income Reason Statem... for 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 740,000 625,000 Cost of goods 560,300 290,800 sold Gross profit 179,700 334,200 Operating 128,200 218,500 expenses $ $ Net income 51,500 115,700 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? Complete this question by entering your answers in the tabs below. Income Reason Statem... for Using the common-size percentages, which item is most responsible for the decline in net income? Using the common-size percentages, which item is most responsible for the decline in net income?