Sales Company A Company B Company C Company D $ 80,000 $180,000 $120,000 $100,000 Cost of goods sold 48,000 135,000 72,000 60,000 Gross margin Operating expenses 9,600 32,000 45,000 48,000 40,000 12,600 10,800 10,000 Net income $22,400 $ 32,400 $ 37,200 $ 30,000 Based on common-sized income statements, which of the companies spent the least on operating expenses in relationship to its sales? Company A O Company B O Company C O Company D