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What percentage is assigned to cost of goods sold

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Reference no: EM133087836

Question - Cochran Corporation, Inc. has the following income statement (in millions):

COCHRAN CORPORATION, INC. Income Statement For the Year Ended December 31, 2020

Net Sales $240

Cost of Goods Sold 150

Gross Profit 90

Operating Expenses 65

Net Income $25

Required - Using vertical analysis, what percentage is assigned to cost of goods sold?

Reference no: EM133087836

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