Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for operating expenses using Net sales as the base. Year 2 Year 1 Net sales $ 423,800 $ 346,600 Cost of goods sold 192,400 133,100 Operating expenses 70,090 67,550 Net earnings 35,380 25,130

Multiple Choice

45.4% for Year 2 and 38.4% for Year 1.

122.3% for Year 2 and 100.0% for Year 1.

28.9% for Year 2 and 18.9% for Year 1.

16.5% for Year 2 and 19.5% for Year 1.

20.2% for Year 2 and 18.9% for Year 1.