How do you calculate items on a vertical analysis? Olivera Company provides the following data for the year 2013: Sales revenue $400,000 Sales returns and allowances $1,200 Sales discounts $800 Cost of goods sold $255,000 On a vertical analysis, what percentage would be shown for cost of goods sold? A) 59.4% B) 61.0% C) 63.4% D) 64.1% On a vertical analysis, what percentage would be shown for gross profit? A) 35.9% B) 35.6% C) 56.1% D) 44.1% Olivera Company provides the following data for the year 2013: Net sales revenue $398,000 Cost of goods sold $255,000 Operating expenses $95,000 Income tax expense $9,000 On a vertical analysis, what percentage would be shown for operating income? \A) 12.9% B) 33.6% C) 12.1% D) 31.4%