The following information is taken from the financial statements of a company for the current year:

Current assets	$401,000
Total assets	896,000
Cost of good sold	656,000
Gross Profit	206,000
Net income	126,000

1.

On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue?

A-100%

B-15%

C-61%

D-Cannot be determined

2.

What is the gross profit percentage for the current year (rounded to the nearest whole percent)?

A-76%

B-61%

C-31%

D-24%

3.

On a common size income statement for this year, what is the percentage that would be shown next to the dollar amount of cost of goods sold?

A-19%

B-76%

C-24%

D-31%