GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year %2. % %24 Sales $ 740,000 $655,000 Cost of goods sold 570,800 282,200 Gross profit 169,200 372,800 Operating expenses 129,200 258,800 Net income $ 40,000 $ 114.000
GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year %2. % %24 Sales $ 740,000 $655,000 Cost of goods sold 570,800 282,200 Gross profit 169,200 372,800 Operating expenses 129,200 258,800 Net income $ 40,000 $ 114.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Comon size percentage
![GOMEZ CORPORATION
Comparative Income Statements
For Years Ended December 31
Current Year
Prior Year
%2.
%
%24
Sales
$ 740,000
$655,000
Cost of goods sold
570,800
282,200
Gross profit
169,200
372,800
Operating expenses
129,200
258,800
Net income
$ 40,000
$ 114.000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F564d30f3-c27d-43cb-a59b-a45a69e7ba25%2Ff1c2ca04-c517-4edc-81f2-64d266c9cc60%2F9ghn1wh_processed.png&w=3840&q=75)
Transcribed Image Text:GOMEZ CORPORATION
Comparative Income Statements
For Years Ended December 31
Current Year
Prior Year
%2.
%
%24
Sales
$ 740,000
$655,000
Cost of goods sold
570,800
282,200
Gross profit
169,200
372,800
Operating expenses
129,200
258,800
Net income
$ 40,000
$ 114.000
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