Ronaldo Soccer Shop's income statement reports sales of $$97,000,$ cost of goods sold of $$46,000,$ operating expenses of $$34,000,$ interest expense of $$15,000,$ income tax expense of $$2,000,$ and net income of $$3,000.$ If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by:

Multiple Choice

$$3,000.$

$$97,000.$

$$46,000.$

$$34,000$