Shamrock, Inc. has the following Income Statement $($in millions$)$:

SHAMROCK, INC.

Income Statement

For the Year Ended December $31,2023$

Net Sales

$$280$

Cost of Goods Sold

Gross Profit

$\frac{196}{84}$

Operating Expenses

$40$

Net Income

$$44$

Using vertical analysis, what percentage is assigned to gross profit?

$70\mathrm{.}0\%$

$42\mathrm{.}9\%$

$100\%$

$30\mathrm{.}0\%$