Answer Happy

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 percents. (Round your percentage answers to 1 decimal place.) Show less A GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ 800,000 Sales Cost of goods sold 570,800 Gross profit 229.200 Operating expenses 128,000 Net income $ 101,200 Reason for Decline in Net Income > $ $640,000 284,400 355,600 254,000 $101,600 income Statement
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 Using the common-size percentages, which item is most responsible for the decline in net income? <Income Statement