Use the Following Selected Information from Wheeler, LLC to Determine

question 77

Multiple Choice

Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base. $\begin{array}{|l|r|r|}\hline & \mathbf{2 0 1 7} &2016 \\\hline \text { Net sales } & \$ 276,200 & \$ 231,400 \\\hline \text { Cost of goods sold } & 151,900 & 129,590 \\\hline \text { Operating expenses } & 55,240 & 53,240 \\\hline \text { Net earnings } & 27,820 & 19,820\\\hline\end{array}$

• A)23.9% for 2017 and 23.0% for 2016.
• B)103.8% for 2017 and 100.0% for 2016.
• C)36.4% for 2017 and 41.1% for 2016.
• D)55.0% for 2017 and 56.0% for 2016.
• E)20.0% for 2017 and 23.0% for 2016.

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Definitions:

Homozygous

A genetic condition where an individual has two identical alleles for a specific gene.

Heterozygous

Possessing two different alleles of a particular gene, one inherited from each parent, resulting in genetic variation.

Alleles

Different versions of a gene, which can result in variations in the physical or physiological traits of an organism.

Genomic Imprinting

An epigenetic phenomenon where certain genes are expressed in a parent-of-origin-specific manner, meaning that the expression of the gene is different depending on whether it is inherited from the mother or the father.