If Cara's Piano sales increased from $40,000 to $60,000 and its cost of goods sold decreased from $20,000 to $40,000, then vertical analysis based on sales would show the following for cost of goods sold (rounded to the nearest percent):

a. 40% and 20%
b. 10% and 30%
c. 50% and 67%
d. 67% and 40%


c. 50% and 67%

Business

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