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 32 Net Income $113.6 Using vertical analysis, what percentage is assigned to Cost of Goods Sold? 56% 44% 100% None of these answer choices are correct