Manero Company included the following information in its annual report:

	2019				2018				2017
Sales	$	178,400			$	162,500			$	155,500
Cost of goods sold		115,000				102,500				100,000
Operating expenses		50,000				50,000				45,000
Operating income		13,400				10,000				10,500

In a trend income statement for 2017, where 2017 is the base year, sales are expressed as:

Multiple Choice

• 84.4%

• 150.5%

• 92.6%

• 100.0%

Hansel Corporations condensed balance sheets appear below:

		2019				2018				2017
Assets:
Current assets		$	55,000			$	56,500			$	70,000
Plant & equipment, net			495,000				410,000				440,000
Intangible assets, net			20,000				27,500				40,000
Total assets		$	570,000			$	494,000			$	550,000
Liabilities & Stockholders Equity:
Current liabilities			40,000			$	35,000			$	32,500
Long-term liabilities			395,000				310,000				375,000
Stockholders equity			135,000				149,000				142,500
Total liabilities & equity		$	570,000			$	494,000			$	550,000

In a common size balance sheet for 2018, plant and equipment (net) is expressed as:

Multiple Choice

• 83.0%

• 100.0%

• 83.6%

• 91.1%

Manero Company included the following information in its annual report:

	2019				2018				2017
Sales	$	178,400			$	162,500			$	155,500
Cost of goods sold		115,000				102,500				100,000
Operating expenses		50,000				50,000				45,000
Operating income		13,400				10,000				10,500

In a common-size income statement for 2017, the cost of goods sold is expressed as:

Multiple Choice

• 100.0%

• 64.3%

• 40.0%

• 230.0%