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What percentage is assigned to net income

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Reference no: EM132580587

Borger, Inc. has the following income statement:

Borger, Inc.Income Statement

For the year ended December 31, 2017

Net Sales$70,000

Cost of Goods Sold42,000

Gross Profit28,000

Operating Expenses16,000

Net Income$12,000

Question 1: Using vertical analysis, what percentage is assigned to Net Income?

Option 1: 17.14%

Option 2: 60.00%

Option 3: 100.00%

Option 4: 42.86%

Reference no: EM132580587

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