Common-Size Analysis of General and Administrative Expenses

XYZ Corp has prepared its financial statements for the year ended December 31, 2023. As part of the analysis, management wants to produce a common-size income statement to evaluate expenses in relation to total revenue.

In the common-size income statement, each line item is expressed as a percentage of total revenue. The income statement for XYZ Corp includes the following figures: Total Revenue: $1,000,000; Cost of Goods Sold: $600,000; Selling Expenses: $200,000; General and Administrative Expenses: $150,000; Interest Expense: $50,000; and Income Tax Expense: $30,000.

What is the common-size percentage for the General and Administrative Expenses on the common-size income statement?