Assume a corporation provided the following excerpts from its balance sheet and income statement as shown below:
Ending Balance Beginning Balance
Current assets $ 120,000 $ 140,000
Total assets $ 480,000 $ 380,000
Current liabilities $ 80,000 $ 70,000
Total liabilities $ 174,600 $ 174,000
Total stockholders' equity $ 305,400 $ 206,000
Sales $ 1,000,000
Cost of goods sold 600,000
Gross margin 400,000
Selling and administrative expenses 250,000
Net operating income 150,000
Interest expense 8,000
Net income before taxes 142,000
Income taxes 42,600
Net income $ 99,400
In a common-size income statement, the percentage that would accompany selling and administrative expenses would be closest to: