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SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2023 Net Sales $420 Cost of Goods Sold 294 Gross Profit 126 Operating Expenses

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SPLISH BROTHERS INC. Income Statement For the Year Ended December 31, 2023 Net Sales $420 Cost of Goods Sold 294 Gross Profit 126 Operating Expenses 60 Net Income $ 66 Using vertical analysis, what percentage is assigned to cost of goods sold? O 44% O 50% O 100% O 70%

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