For questions 25 & 26 the following was taken from the financial statements of a company for the current year. Current Assets $215,000 Total Assets 750,000 Cost of Goods Sold 325,000 Gross Profit 150,000 Net Income 90,000

25. On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue? A. 60% B. 14% C. 100% D. Cannot be determined

26. The gross profit percentage for the current year rounded to the nearest whole percent is closest to: A. 32% B. 46% C. 60% D. 20%