AAFCO requires the guaranteed analysis to be stated "as fed" — the percentages are of the food in the form it leaves the bag or can. Wet food is 75-82% water, dry kibble is 8-12%, so as-fed numbers make wet food look low-protein when it isn't. To compare wet vs. dry fairly, convert to dry-matter basis by removing the moisture component. As-fed is what's on the label; dry-matter basis is what KibbleWatcher uses for cross-format comparisons.