Hi! I can't figure out this question...any help is greatly appreciated!

Question

In a common size financial statement, which of the following is given a percentage of 100 percent?

a. total liabilities
b. total assets
c. net income
d. cost of goods sold

I was thinking net income, but I really don't know.

Thank you!

Answer 1

I looked at several, cost of goods sold was given as a percentage of sales.