When computing trend percentages:

A) the current year is always equal to 100%.

B) the base year is always the latest year.

C) the base year is always equal to 100%.

D) the base year is equal to the current year plus the previous year divided by two.

Which of the following is typically used as the base in a vertical analysis of an income statement?

A) gross profit

B) operating income

C) net income

D) net sales