As part of its environmental cost reporting system, McClaren Company tracks its total environmental costs. Consider the cost and sales data given: 
What is the environmental costs as a percentage of sales for 2014?
Definitions:
Personal Creditors
Individuals or entities to whom a person owes money, as opposed to business or corporate creditors.
Journal Entry
A journal entry is a record of a financial transaction in an accounting system, ensuring that debits and credits are recorded in the correct accounts.
Partnership Asset
Assets owned jointly by partners in a partnership, used in the operation of the partnership business.
Liquidation
The process of closing a business, selling its assets, and using the proceeds to pay creditors and shareholders.
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