Foreign Travel Services Has Net Income of $48,400, Total Assets

Multiple Choice

Foreign Travel Services has net income of $48,400, total assets of $219,000, total equity of $154,800, and total sales of $311,700. What is the common-size percentage for the net income?

A) 9.00 percent
B) 13.90 percent
C) 15.53 percent
D) 22.10 percent
E) 31.27 percent