Income Statement for Babylon Retailers:

Income Statement Items	Year Ended Dec 31, 2023 (IQD)	Percentage of Revenue
Sales Revenue	200,000,000	100%
Cost of Goods Sold	120,000,000	60%
Gross Profit	80,000,000	40%
Operating Expenses	40,000,000	20%
Net Income	30,000,000	15%
Perform vertical analysis on Babylon Retailers' income statement for the year ended December 31, 2023. Interpret the results to evaluate the company's cost structure and profitability margins.