Question 8 Manero Company included the following information in its annual report: 2018 2017 2016 Sales $150,500 $188,400 115,000 $162,500 102,500 100,000 Cost of goods sold Operating expenses 50,000 50,000 23,400 45,000 5,500 Net income 10,000 In a Horizontal analysis of income statement for 2017, cost of goods sold are expressed as OA. 15.0% B. 102.5% C. 100.0% D. 115.0%