Use the Following Selected Information from Wheeler, LLC to Determine

question 142

Multiple Choice

Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for cost of goods sold using Net sales as the base. $$\begin{array} { | l | r | r | } \hline & { \mathbf { 2 0 1 7 } } &{ \mathbf { 2 0 1 6 } } \\\hline \text { Net sales } & \$ 276,200 & \$ 231,400 \\\hline \text { Cost of goods sold } & 151,900 & 129,590 \\\hline \text { Operating expenses } & 55,240 & 53,240 \\\hline \text { Net earnings } & 27,820 & 19,820 \\\hline\end{array}$$

• A) 119.4% for 2017 and 100.0% for 2016.
• B) 65.1% for 2017 and 56.0% for 2016.
• C) 36.4% for 2017 and 41.1% for 2016.
• D) 55.0% for 2017 and 56.0% for 2016.
• E) 117.2% for 2017 and 100.0% for 2016.

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Definitions:

Conducting System

A network in the heart that electrically controls and coordinates heart muscle contractions.

SA Node

The sinoatrial node, a group of cells in the right atrium of the heart that acts as a natural pacemaker by initiating the heart's electrical impulses.

Purkinje Fibers

Specialized conducting fibers located in the heart's ventricles that help regulate the heart's rhythm.

Heart Skeleton

Fibrous connective tissue that provides a point of attachment for cardiac muscle cells, electrically insulates the atria from the ventricles, and forms the fibrous rings around the valves.