Use the following information for the question below:

Accounts receivable	$ 7,500
Total current assets	75,000
Total assets	750,000
Sales	2,100,000
Net sales	1,900,000
Cost of goods sold	700,000
Net Income	150,000

In performing a vertical analysis, the percentage for cost of goods sold is

a

33.3%.

b

36.8%.

c

7.1%.

d

93.3%.