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Marin Inc. has the following income statement (in millions): MARIN INC. Income Statement For the Year Ended December 31, 2023 Net Sales $400 Cost of
Marin Inc. has the following income statement (in millions):
MARIN INC. Income Statement For the Year Ended December 31, 2023 | |
Net Sales | $400 |
Cost of Goods Sold | 256 |
Gross Profit | 144 |
Operating Expenses | 68 |
Net Income | $ 76 |
Using vertical analysis, what percentage is assigned to net income?
81%
19%
30%
100%
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