Shelcal Ltd Provides the Following Data for the Year 2016

Multiple Choice

Shelcal Ltd provides the following data for the year 2016: $$\begin{array} { | l | l | } \hline \text { Sales revenue } & \$ 430,000 \\\hline \text { Sales returns and allowances } & 1300 \\\hline \text { Sales discounts } & 830 \\\hline \text { Net sales revenue } & \$ 427,870 \\\hline \text { Cost of sales } & \$ 259,000 \\\hline\end{array}$$ On a vertical analysis report,cost of sales as a percentage of net sales will amount to:

A) 60.72%
B) 60.53%
C) 60.23%
D) 60.84%