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What percentage is assigned to net income using vertical

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Reference no: EM132715795

Tamarisk, Inc. has the following income statement (in millions):

TAMARISK, INC.
Income Statement
For the Year Ended December 31, 2023

Net Sales $280
Cost of Goods Sold 140
Gross Profit 140
Operating Expenses 70
Net Income $ 70

Problem 1: Using vertical analysis, what percentage is assigned to net income?

A. 100%
B. 75%
C. 25%
D. 50%

Reference no: EM132715795

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