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Splish Brothers Inc. has the following income statement (in millions): SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2023 Net Sales $680
Splish Brothers Inc. has the following income statement (in millions):
SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2023 | |
Net Sales | $680 |
Cost of Goods Sold | 442 |
Gross Profit | 238 |
Operating Expenses | 69 |
Net Income | $ 169 |
Using vertical analysis, what percentage is assigned to cost of goods sold?
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