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

WINDSOR, INC. Income Statement For the Year Ended December 31, 2023
Net Sales	$300
Cost of Goods Sold	195
Gross Profit	105
Operating Expenses	40
Net Income	$ 65

Using vertical analysis, what percentage is assigned to gross profit?

65.0%

35.0%

53.8%

100%