[The following information applies to the questions displayed below.] Company A...
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Accounting
[The following information applies to the questions displayed below.]
| Company | A | B | C | D | |||||||||||
| Sales | $ | 80,000 | $ | 180,000 | $ | 120,000 | $ | 100,000 | |||||||
| Cost of goods sold | 48,000 | 135,000 | 72,000 | 60,000 | |||||||||||
| Gross margin | 32,000 | 45,000 | 48,000 | 40,000 | |||||||||||
| Operating expenses | 9,600 | 12,600 | 10,800 | 10,000 | |||||||||||
| Net income | $ | 22,400 | $ | 32,400 | $ | 37,200 | $ | 30,000 | |||||||
Based on common-sized income statements, which of the companies spent the least on operating expenses in relationship to its sales?
Multiple Choice
A Company A
B Company B
C Company C
D Company D
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