The following income statement information is available for two different companies within the same industry: Smith $9,000 3,000 6,000 Jones $50,000 30,000 20,000 Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense 400 600 1,000 5,000 600 800 1,400 18,600 (200) (600) A. Smith Company has a higher percentage for net income. B. Smith Company has a lower percentage for income tax expense. C. Jones Company has a higher percentage for gross profit. D. Smith Company has a higher percentage for cost of goods sold. 400 600 1,000 5,000 600 800 1,400 18,600 Operating Expenses: Selling Expenses Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Expense Total Other Income and (Expenses) Income Before Income Taxes Income Tax Expense Net Income (200) .(200) 4,800 1,000 $ 3,800 .(600) (600) 18,000 5,000 $13,000 Which of the following is correct regarding a vertical analysis? O A. Smith Company has a higher percentage for net income. B. Smith Company has a lower percentage for income tax expense. C. Jones Company has a higher percentage for gross profit. D. Smith Company has a higher percentage for cost of goods sold