Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that follows is from the firms worksheet for the year ended December 31, 2019.

Accounts Debit Credit Cash $ 98,400 Petty Cash Fund 600 Notes Receivable, due 2020 12,000 Accounts Receivable 139,600 Allowance for Doubtful Accounts $ 3,200 Interest Receivable 120 Merchandise Inventory 127,900 Warehouse Supplies 2,700 Office Supplies 640 Prepaid Insurance 4,040 Land 15,400 Building 104,000 Accumulated DepreciationBuilding 16,400 Warehouse Equipment 19,200 Accumulated DepreciationWarehouse Equipment 9,200 Office Equipment 8,800 Accumulated DepreciationOffice Equipment 3,600 Notes Payable, due 2020 14,400 Accounts Payable 56,300 Interest Payable 340 Loans PayableLong-Term 14,000 Mortgage Payable 17,000 Colin OBrien, Capital (Jan. 1) 321,020 Colin OBrien, Drawing 70,050 Income Summary 130,800 127,900 Sales 1,098,300 Sales Returns and Allowances 7,800 Interest Income 520 Purchases 457,000 Freight In 9,200 Purchases Returns and Allowances 13,050 Purchases Discounts 8,640 Warehouse Wages Expense 108,000 Warehouse Supplies Expense 5,200 Depreciation ExpenseWarehouse Equipment 2,800 Salaries ExpenseSales 151,100 Travel Expense 23,400 Delivery Expense 36,825 Salaries ExpenseOffice 84,400 Office Supplies Expense 1,160 Insurance Expense 9,275 Utilities Expense 7,400 Telephone Expense 3,220 Payroll Taxes Expense 31,000 Building Repairs Expense 3,100 Property Taxes Expense 15,800 Uncollectible Accounts Expense 2,980 Depreciation ExpenseBuilding 5,000 Depreciation ExpenseOffice Equipment 1,560 Interest Expense 3,400 Totals $ 1,703,870 $ 1,703,870

Required:

Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. Prepare a statement of owners equity for the year ended December 31, 2019. No additional investments were made during the period. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than one year.

Analyze: What percentage of total operating expenses is attributable to warehouse expenses?