Multiple Choice Question 60 Assume the following cost of goods sold data for a company: . 2019 2018 2017 $ 1582700 1360000 1190000 ercentage increase in cost of goods If 2017 is the base year, what is the sold from 2017 to 2019? 114.3% 75.2% 33.0% 87.5% Multiple Choice Question 61 Sheffield, Inc. has the following income statement (in millions): Sheffield, Inc. Income Statement For the Year Ended December 31, 2019 Net Sales $310 Cost of Goods Sold 1 98.4 Gross Profit 111.6 Operating Expenses Net Income $72.6 39 Using vertical analysis, what percentage is assigned to Cost of Goods Sold? 36% 64% 100% O None of these answer choices are correct