The Vertical Analysis Statement of Nobell Inc

Multiple Choice

The vertical analysis statement of Nobell Inc. is as below: The figure 16.5% shown for net income in 2015 signifies that:

A) net income is 16.5% of net sales revenues.
B) net income is increased by 16.5% over the previous year.
C) net income is 16.5% of gross profit.
D) net income is equal to 16.5 times of the income before income tax.