Use the following income statement to perform a vertical analysis and check if soling, general,...
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Use the following income statement to perform a vertical analysis and check if soling, general, and administrative (SG&A) expenses are in line with the industry average of 34 percent Click the icon to view the income statement) Knight Corp Income Statement adapted) For the Year Ended November 30, 2020 Amount Parcent Sot sales 5304335 149.150 Contef goods sold Grossman 155.185 106.630 Selling out and administrative expenses Income from per 48.555 Income tax exe 21.145 27410 Nincome Are selling, general, and administrative expenses in line with the industry average of 34 percent? OA. The percentage of the company's net sales for selling general, and administrative expenses is exactly the same as the industry average OB. The percentage of the company's net sales for selling general, and administrative expenses is much higher than the industry average OC. The percentage of the company's net sales for selling, general, and administrative expenses is much lower than the industry average. OD. Selling, general, and administrative expenses is a similar percentage of the company's net sales as the industry average
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