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%

Question

Quizplus · Accepted Answer

Sales in 2012 were $155,500. Sales in 2014 were $178,400. The percentage increase is ($178,400 - $155,500) / $155,500 = 14.7%. Adding 100% to this percentage gives 114.7%.

Manero Company Included the Following Information in Its Annual Report