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To follow is selected information about The Boston Company for the current year and prior year. Account Current Prior Net sales revenue $648,000 $595,000 Cost
To follow is selected information about The Boston Company for the current year and prior year.
Account | Current | Prior |
Net sales revenue | $648,000 | $595,000 |
Cost of goods sold | $414,720 | $425,000 |
Gross profit | $233,280 | $170,000 |
Selling/general expenses | $149,140 | $93,500 |
Net income before tax | $84,140 | $76,500 |
Income tax | $25,920 | $22,800 |
Net income | $ $58,220 | $53,700 |
What is the current year's selling and general expenses percentage (as would be found on a vertical analysis of the income statement for the current year)?
A.95%
B.98%
C.63.93%
D.23.02%
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