Ramos Company Included the Following Information in Its Annual Report

question 84

Multiple Choice

Ramos Company included the following information in its annual report:
$\begin{array}{|l|l|l|l|}\hline & 2011 & 2010 & 2009 \\\hline \text { Sales } & \$ 178,400 & \$ 162,500 & \$ 155,500 \\\hline\text { Cost of goods sold } & 115,000 & 102,500 & 100,000 \\\hline\text { Operating expenses } & 50,000 & 50,000 & 45,000 \\\hline\text { Net incoume } & 13,400 & 10,000 & 10,500 \\\hline \end{array}$
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Refer to the information for Ramos Company. In a common size income statement for 2011, the operating expenses are expressed as:

• A) 30.3%
• B) 28.0%
• C) 43.8%
• D) 100%

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Definitions:

Talus

A bone in the ankle that sits between the heel bone and the two bones of the lower leg, allowing for ankle movement.

Palatine Bones

Bones that form part of the hard palate of the mouth as well as parts of the nasal cavity and eye orbits.

Maxillae

The pair of large facial bones that form the upper jaw and parts of the orbits of the eyes, necessary for chewing and supporting the face.

Mandible

The lower jawbone in vertebrates, which holds the lower teeth in place and forms the structure necessary for chewing.