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 2Year 1Net sales$276,200 $231,400 Cost of goods sold 151,900 129,590 Operating expenses 55,240 53,240 Net earnings 27,820 19,820
A. 23.9% for Year 2 and 23.0% for Year 1.
B. 20.0% for Year 2 and 23.0% for Year 1.
C. 103.8% for Year 2 and 100.0% for Year 1.
D. 36.4% for Year 2 and 41.1% for Year 1.
E. 55.0% for Year 2 and 56.0% for Year 1.
Answer: B
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