Perform a vertical analysis for the entry "Gross Sales" on the portion of an income statement shown below (as a %). (Round to nearest tenth.) Revenue Gross Sales $189,000 Less: Sales Returns and Allowances 11,200 Net Sales 177,800 Cost of Goods Sold Merchandise Inventory, Jan. 1 70,150 Net Purchases 58,300 Goods Available for Sale 128,450 Lessi Merchandise Inventory, Dec. 31 85,000 Cost of Goods Sold 43,450 Gross Margin 134,350 Need Help? Head Watch Master