The Following Information Is Taken from the Financial Statements of Clybourn

question 30

Multiple Choice

The following information is taken from the financial statements of Clybourn Company for the current year: $\begin{array}{lr}\text { Current Assets } & \$ 32,000 \\\text { Total Assets } & 1,424,000 \\\text { Cost of Goods Sold } & 1,040,000 \\\text { Gross Profit } & 320,000 \\\text { Net Income } & 192,000\end{array}$ On a common size income statement for the year,what is the percentage that would be shown next to the dollar amount of sales revenue?

• A)100%
• B)14%
• C)60%
• D)Cannot be determined

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