Manero Company Included the Following Information in Its Annual Report

question 6

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 trend income statement for 2014,where 2012 is the base year,sales are expressed as

• A)87.2%
• B)100.0%
• C)114.7%
• D)148.7%

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Definitions:

Days Past Due

The number of days that have elapsed since a payment was due, often used in financial contexts to indicate overdue payments.

Inquiry

The act of seeking information by questioning or investigation.

Professional Courtesy

A practice among professionals of providing services to each other at reduced rates or without charge.

Medical Provider

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