Question 1 Waterway, Inc. has the following income statement (in millions): Waterway, Inc. Income Statement For the Year Ended December 31, 2017 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $360 210 150 24 $126 Using vertical analysis, what percentage is assigned to Net Income? ? 150096 ? 42% ? 35% O None of these answer choices are correct