The Senior Accountant of General Electric has calculated the following figures. Use this information to calculate the 2017 and 2016 common size percentages for cost of goods sold. Net sales is the base for the calculation.

	2017			2016
Net sales	$	505,800		$	410,600
Cost of goods sold		214,900			135,050
Operating expenses		78,340			75,500
Net earnings		39,580			28,080

Multiple Choice

• 172.5% for 2017 and 195.0% for 2016.

• 42.5% for 2017 and 32.9% for 2016.

• 58.0% for 2017 and 51.3% for 2016.

• 7.8% for 2017 and 6.8% for 2016.

• 123.2% for 2017 and 100.0% for 2016.