Manero Company Included the Following Information in Its Annual Report

question 40

Multiple Choice

Manero Company included the following information in its annual report:
$\begin{array}{lrrr}&2014&2013&2012\\\text { Sales } & \$ 178,400 & \$ 162,500 & \$ 155,500 \\\text { Cost of goods sold } & 115,000 & 102,500 & 100,000 \\\text { Operating expenses } & 50,000 & 50,000 & 45,000 \\\text { Net income } & 13,400 & 10,000 & 10,500\end{array}$
-In a common size income statement for 2012,the cost of goods sold is expressed as

• A)40.0%
• B)64.3%
• C)100.0%
• D)230.0%

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Definitions:

High Quality

A characteristic of something that meets or exceeds established standards of excellence or merit.

Evolutionarily Advantageous

Traits or behaviors that increase an organism's chances of survival and reproduction in a particular environment.

Dominance Structuring

The organization or arrangement of elements in a system, group, or interaction according to their level of power or control.

Promising Option

A choice or decision that shows potential to yield beneficial results based on preliminary evidence or analysis.