Cochran Corporation, Inc. has the following income statement (in
millions):
COCHRAN CORPORATION, INC.
Income Statement
For the Year Ended December 31, 2014
Net Sales
$240
Cost of Goods Sold 80
Gross Profit 160
Operating Expenses
Net Income
65
$ 95
Using vertical analysis, what percentage is assigned to net income?
Question 13
The following information pertains to Marsh Company. Assume
that all balance sheet amounts represent average balance figures.