Quinn Corporation, Inc. has the following income statement (in millions): QUINN CORPORATION, INC. Income Statement For the Year Ended December 31, 2020 Net Sales $240 Cost of Goods Sold 80 Gross Profit 160 Operating Expenses 65 Net Income $ 95 Using vertical analysis, what percentage is assigned to net income?

A) 33%

B) 40%

C) 60%

D) 40%