The vertical analysis statement of Bateman,Inc.is as shown below: 
The figure 47.0% shown for gross profit in 2017 signifies that the gross profit is ________.
A) equal to 47.0% of net income
B) increased by 47.0% over the previous year
C) 47.0% of net sales revenue
D) 47.0% of cost of goods sold
Correct Answer:
Verified
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