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Exercise 17-4 Common-size percent computation and interpretation LO P2 Express the following comparative income statements...

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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 Cost of goods sold Gross profit Operating expenses Net income $ 735,000 562,700 172,300 130,400 $ 41,900 $645,000 288,800 356,200 256,400 $ 99,800 Has the company's situation improved in the most recent year? Yes No

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