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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%
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