The following percentages are taken from the vertical analysis from income statement and balance sheet of company (X) Gross Margin = 58% Office Rent = 6% Salaries and Wages = 32% Utilities = 5% Account Payable = 20% Fixed Assets = 30% Cash = 15% Accounts Receivables = 48% Inventory = ? Costs of Goods Sold = ? 8. The percentage of cost of goods sold equals: * (3 Points) 57% 12% 42% 37%