The vertical analysis of the income statement of Bates, Inc. is as shown below: Bates, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 Bates, Inc Comparative Income Statement Years Ended December 31, 2019 and 2018 (In millions) Net Sales Cost of Goods Sold 2019 $6,355 3,370 Percent of Total 100.0% 53.0 2018 2018 $4,920 2.200 Percent of Total 0 100.0% 44.7 O A. equal to 47.0% of net income OB. 47.0% of net sales revenue OC. 47.0% of cost of goods sold OD. increased by 47.0% over the previous year