This Question: 3 pts 16 of 66 The vertical analysis of the income statement of Settler, Inc. is as shown below: Settler, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 (In millions) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses 2019 $6,355 3,370 2,985 Percent of Total 100.0% 53.0 47.0 2018 $4,920 2200 2,720 Percent of Total 100.0% 44.7 55.3 675 10.6 580 O A increased by 20% over the previous year O B. is 20% of gross profit O C. equals 20 times of the income before income tax OD. is 20% of net sales revenues Click to select your newer This Question: 3 pts 16 of 66 The vertical analysis of the income statement of Settler, Inc. is as shown below: Settler, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 (In millions) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses 2019 $6,355 3,370 2,985 Percent of Total 100.0% 53.0 47.0 2018 $4,920 2200 2,720 Percent of Total 100.0% 44.7 55.3 675 10.6 580 O A increased by 20% over the previous year O B. is 20% of gross profit O C. equals 20 times of the income before income tax OD. is 20% of net sales revenues Click to select your newer