Question: Exercise 17-4 Common-size percent computation and interpretation LO P2 Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal

Exercise 17-4 Common-size percent computation and interpretation LO P2 Express the

Exercise 17-4 Common-size percent computation and interpretation LO P2 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, 2017 and 2016 2017 2016 % $ % Sales 100.00 Cost of goods sold Gross profit Operating expenses Net income $ $ 740,000 565,400 174,600 129,200 $ 45,400 100.0 $635,000 76.7 286,600 348,400 273,200 $ 75,200 Has the company's situation improved in the most recent year? O Yes O No

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