TB MC Qu. 06-28 Manero Company included the... Manero Company included the following information in its annual report Sales Cost of goods sold Operating expenses Operating income 20x3 $178,400 115,000 50,000 13,400 20x2 $162,500 102,500 50,000 10,000 20x1 $155,500 100,000 45,000 10,500 In a common-size income statement for 20X3, the cost of goods sold is expressed as: In a common-size income statement for 2003, the cost of goods sold is expressed as: 2 Multiple Choice 64.5% 100.0% 1123% 130.0%