Ramos Company Ramos Company included the following information in its annual report:

	2016	2015	2014
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
Net income	13,400	10,000	10,500

Refer to the information for Ramos Company. In a common size income statement for 2014, the cost of goods sold is expressed as:

	A.	64.3%
	B.	40.0%
	C.	87 %
	D.	103%