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 common size balance sheet,all items are expressed as a percentage of
A)total assets.
B)total liabilities.
C)total equity.
D)total sales.

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The Answer of 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 common size balance sheet,all items are expressed as a percentage of
A)total assets.
B)total liabilities.
C)total equity.
D)total sales.

Manero Company Included the Following Information in Its Annual Report