Question: Using vertical analysis with Net Sales as the base, what percentage is assigned to gross profit? Salamagundi, Inc. has the following Income Statement (in millions)

Using vertical analysis with Net Sales as the base, what percentage

Using vertical analysis with Net Sales as the base, what percentage is assigned to gross profit?

Salamagundi, Inc. has the following Income Statement (in millions) SALAMAGUNDI, INC Income Statement For the Year Ended December 31, 2017 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $160 100 60 -40 $20

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