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Exercise 13-4 Common-size percent computation and interpretation LO P2 Express the following comparative income statements...

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Exercise 13-4 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, 2018 and 2017 2018 2017 Sales Cost of goods sold Gross profit Operating expenses Net income $ 725,000 568,100 156,900 130,400 $ 26,500 $ 665,000 293,200 371,800 231,200 $ 140,600 Has the company's situation improved in the most recent year? Yes O No Exercise 13-4 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, 2018 and 2017 2018 2017 Sales Cost of goods sold Gross profit Operating expenses Net income $ 725,000 568,100 156,900 130,400 $ 26,500 $ 665,000 293,200 371,800 231,200 $ 140,600 Has the company's situation improved in the most recent year? Yes O No

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