The Following Is a Summary of Information Presented on the Income

The following is a summary of information presented on the income statement of HR Flowers for December 31, 2007.
$$\begin{array} { | l | r | r | r | } \hline \text { Account } & 2007 & & 2006 \\\hline \text { Net sales revenue } & \$ 487,000 & 100.00 \% & \$ 500,000 \\\hline \text { Cost of goods sold } & 330,000 & 67.76 \% & 395,000 \\\hline \text { Gross profit } & 157,000 & 32.24 \% & 105,000 \\\hline \text { Selling and general expenses } & 70,000 & 14.37 \% & 50,000 \\\hline \text { Net income before income tax expense } & 87,000 & 17.86 \% & 55,000 \\\hline \text { Income tax expense } & \underline { 24,000 } & 4.93 \% & 16.500 \\\hline \text { Net income } & \underline { \$ 63,000 } & 12.94 \% & \$ 38,500 \\\hline\end{array}$$ What would vertical analysis report with respect to the relationship between 2007 net sales revenue and cost of goods sold?

A) Vertical analysis would report that cost of goods sold was too high as a percentage of net sales revenue.
B) Vertical analysis would report that cost of goods sold was 67.76% of net sales revenue.
C) Vertical analysis would report that cost of goods sold increased more than net sales revenue.
D) Vertical analysis would report that cost of goods sold was too low as a percentage of net sales revenue.