Manero Company included the following information in its annual report:
$\begin{array}{lrrr}&2014&2013&2012\
\text { Sales } & \$ 178,400 & \$ 162,500 & \$ 155,500 \
\text { Cost of goods sold } & 115,000 & 102,500 & 100,000 \
\text { Operating expenses } & 50,000 & 50,000 & 45,000 \
\text { Net income } & 13,400 & 10,000 & 10,500
\end{array}$
-In a trend income statement for 2012,where 2012 is the base year,sales are expressed as
A)84.4%
B)92.6%
C)100.0%
D)150.5%

Question

Quizplus · Accepted Answer

In a trend analysis, the base year amounts are always expressed as 100%. Since 2012 is the base year, its sales figure ($155,500) is represented as 100.0%.

Manero Company Included the Following Information in Its Annual Report