Olivera Company Provides the Following Data for the Year 2013

Multiple Choice

Olivera Company provides the following data for the year 2013:
$$\begin{array} { l r } \text { Net sales revenue } & \$ 398,000 \\\text { Cost of goods sold } & \$ 255,000 \\\text { Operating expenses } & \$ 95,000 \\\text { Income tax expense } & \$ 9,000\end{array}$$
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On a vertical analysis, what percentage would be shown for operating expenses?

A) 22.9%
B) 66.4%
C) 23.9%
D) 24.5%