Delmont Movers has a profit margin of 7.1 percent and net income of $63,700. What is the common-size percentage for the cost of goods sold if that expense amounted to $522,600 for the year?
a. 12.19%
b. 23.50%
c. 53.25%
d. 61.06%
e. 58.25%
Ans: e. 58.25%
Business
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