Preforming a Vertical Analysis on an Income Statement, what is the % of Cost of Goods Sold using the following financial data

Sales 930,000

CoGS 720,000

Gross Profit 210,000

Operating Exp 160,000

Net Income from Operations 50,000

Select one:

a. 29 %

b. 7 %

c. 77%

d. None of the above