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Consider the following income statement data for Oriole Inc.: 2024 2023 Sales revenue $98600 $86100 Less: Cost of goods sold 48800 53400 Gross profit 49800

Consider the following income statement data for Oriole Inc.: 2024 2023 Sales revenue $98600 $86100 Less: Cost of goods sold 48800 53400 Gross profit 49800 32700 Less: Selling and administration costs 23171 18600 Net Income $26629 $14100 The common-size percentage for selling and administration costs in 2024 was 87.0% 23.0% 46.5% 23.5%

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