Cochran Corporation, Inc. has the following income statement (in millions): COCHRAN CORPORATION, INC.
Income Statement
For the Year Ended December 31, 2017
$\begin{array}{lr}
\text { Net Sales } & \$ 240 \
\text { Cost of Goods Sold } & 150 \
\text { Gross Profit } & 90 \
\text { Operating Expenses } & \$ 65 \
\text { Net Income } & \$ 25
\end{array}$ Using vertical analysis, what percentage is assigned to cost of goods sold?

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The Answer of Cochran Corporation, Inc. has the following income statement (in millions): COCHRAN CORPORATION, INC.
Income Statement
For the Year Ended December 31, 2017
$\begin{array}{lr}
\text { Net Sales } & \$ 240 \
\text { Cost of Goods Sold } & 150 \
\text { Gross Profit } & 90 \
\text { Operating Expenses } & \$ 65 \
\text { Net Income } & \$ 25
\end{array}$ Using vertical analysis, what percentage is assigned to cost of goods sold?

Cochran Corporation, Inc Using Vertical Analysis, What Percentage Is Assigned to Cost of COCHRAN