Sheridan, Inc. has the following income statement (in millions): Sheridan, Inc. Income Statement For the Year Ended December 31, 2019 Net Sales $260 Cost of Goods Sold 114.4 Gross Profit 145.6 Operating Expenses Net Income $113.6 32 Using vertical analysis, what percentage is assigned to Cost of Goods Sold? 56% 44% 100% None of these answer choices are correct Assume the following cost of goods sold data for a company: 2019 2018 2017 $1663800 1430000 1180000 If 2017 is the base year, what is the percentage increase in cost of goods sold from 2017 to 2019? 41% 83% 71% 121% Assume the following sales data for a compa 2019 2018 $941000 877200 680000 2017 If 2017 is the base year, what is the percentage increase in sales from 2017 to 2018? 29% 72% 38% 78%