What percentage is assigned to gross profit

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Reference no: EM132503143

Kingbird, Inc. has the following Income Statement (in millions):

KINGBIRD, INC.

Income Statement

For the Year Ended December 31, 2023

Net Sales$300

Cost of Goods Sold 204

Gross Profit96

Operating Expenses 52

Net Income$ 44

Question 1: Using vertical analysis, what percentage is assigned to gross profit?

Option 1: 32.0%

Option 2: 68.0%

Option 3: 100%

Option 4: 47.1%

Reference no: EM132503143

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