Targee Inc. has the following income statement (in mulons). Targee, INC. Income Statement For the Year Ended December 31, 2020 Net Sales $3,300 Cost of Goods Sold 2.280 Gross Profit 1,950 Operating Expenses 45 Net Income $1.905 Using vertical analysis, what percentage is assigned to Cost of Goods Sold?  a. 70% b. 6996 c. 100% d. None of these

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Q: please step by step solution.

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A: Gross profit = Net sales - Cost of goods sold where, Cost of goods sold = beginning inventory + cost…

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A: Solution:- Vertical analysis:- Vertical analysis statements states that each line item is listed as…

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A: INCOME STATEMENTIncome Statement is one of the Important Financial Statements of the Company. Income…

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