Was the common statement below calculated using a vertical analysis? (Yes or No): 2016 2015 2014 2013 2012 al. $1,195,400 $1,118,000 $1,049,000 $963,200 $860,000 Cost of sales. 752,400 704,000 671,000 616.700 559,000 Gross $443.000$414,000 $378,000 $346,500 $301,000 2016 2015 2014 2013 2012 Answer 139.0% 130.0% -,122.0% 112.0% 100% Sales Cost ofgoods. 134.6% 125.9% 120.0% 110.4% 100% v' Gross profit.. 147.2% 137.5% 125.6% 115.1% 100% True False