Waterway, Inc. has the following Income Statement (in millions):

Waterway, Inc. Income Statement For the Year Ended December 31, 2017

Net Sales $380

Cost of Goods Sold 200

Gross Profit 180

Operating Expenses 164

Net Income $ 16

Using vertical analysis, what percentage is assigned to net sales?

a. 380%

b. Cant be computed.

c. 90%

d. 100%