Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sales as the base.

Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sales as the base. Net sales Cost of goods sold Operating expenses Net earnings Year 2 Year 1 $309,000 $257,000 160,900 130,370 58,540 56,420 29,500 21,000 Multiple Choice 71.0% for Year 2 and 72.7% for Year 1. 140.8% for Year 2 and 137.6% for Year 1. 52.1% for Year 2 and 50.7% for Year 1. 9.6% for Year and 8.2% for Year 1. O 120.2% for Year 2 and 100.0% for Year 1