Assume a business provided the following excerpts from its balance sheet and income statement as shown below: Ending Balance Beginning Balance Current assets $120,000 $140,000 Total assets $480,000 $380,000 Current liabilities $ 80,000 $ ?0,000 Total liabilities $174,600 $174,000 Total stockholders'r equity $305,400 $206,000 Sales $1,000,000 Cost of goods sold 600,000 Gross margin 400,000 Selling and administrative expenses 250,000 Net operating income 150,000 Interest expense 8,000 Net income before taxes 142,000 Income taxes 42,600 Net income 5 99.400 In a commonsize income statement, the percentage that would accompany selling and administrative expenses would be closest to