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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? os Complete this question by entering your answers in the tabs below. Income Reason for Statement Decline in Net Income Express the following comparative Income statements in common-size percents. (Round your percentage answers to 1 decimal place.) ces GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Years Current Year % Prior Years $ 760,000 1000 $ 665,000 562,700 297,600 197,300 367.400 130,400 170 248.000 $ 66.900 $ 119.400 Prior Year 1000 Salos Cost of goods sold Gross profit Operating expenses Net income Reason for Decline in Net Income >