Step 1: Net charge:
The compound is neutral, with one sulfate (-2), so the cation must be $+2$.
Step 2: Ligand charges:
Total ligand charge = $5\times0 + (-1) = -1$.
Step 3: Metal:
Metal charge = $+2 - (-1) = +3$, option (B).
Final Answer:
Cobalt shows oxidation state +3.
\[ \boxed{\text{(B) }+3} \]