Maureen Company Has the Following Income Statement for the Year $\begin{array}{ll}\text { Sales } & \$ 1,562 \\\text { Cost of goods sold } & {806} \\\text { Gross profit } &{756}\end{array}$

Multiple Choice

Maureen Company has the following income statement for the year ending December 31,2016:
$\begin{array}{ll}\text { Sales } & \$ 1,562 \\\text { Cost of goods sold } & {806} \\\text { Gross profit } &{756}\end{array}$
Operating expenses:
$\begin{array}{ll}\text { Wage expense } & 110 \\\text { Depreciation expense } & 76 \\\text { Rent expense } & 36 \\\text { Miscellaneous expense } & \underline{70} \\\text { Total operating expenses } & \underline{292} \\\text { Operating income } & 464 \\\text { Income tax expense } & \underline{162} \\\text { Net income } & \$ 302\end{array}$
If Maureen Company prepares a common size income statement,what will they report for Wage expense?

A) 7.0%
B) 10.2%
C) 34.4%
D) 66.1%