Question 25 Wayne Co... has the following income statement (in millions): Wayne Co. Income Statement For the Year Ended December 31, 2023 Net Sales $240 Cost of Goods Sold 150 Gross Profit 90 Operating Expenses 65 Net Income $25 Using vertical analysis, what percentage is assigned to cost of goods sold? 37.5% 62.5% O 100.0% O 16.7% 3.25 pts