Reference no: EM131809640

Assignment

Manero Company included the following information in its annual report:

	2016	2015	2014
Sales	$178,400	$162,500	$155,500
Cost of goods sold	115,000	102,500	100,000
Operating expenses	50,000	50,000	45,000
Net income	13,400	10,000	10,500

Refer to Manero. In a common size income statement for 2016, the operating expenses are expressed as

a. 28.0%.
b. 30.3%.
c. 43.8%.
d. 100.0%.

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

a. 84.4%.
b. 92.6%.
c. 100.0%.
d. 150.5%.

In a trend income statement where 2014 is the base year, sales for 2016 are expressed as

a. 87.2%.
b. 100.0%.
c. 114.7%.
d. 148.7%.