The Following Information Is Taken from the Financial Statements of Clybourn

question 153

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 this year,what is the percentage that would be shown next to the dollar amount of cost of goods sold?

• A)76%
• B)24%
• C)31%
• D)18%

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Definitions:

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New York Longitudinal Study

A pioneering research project that began in the 1950s, studying the personality development of individuals from infancy through adulthood.

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