1. A bakery recorded $ 1 million in revenue last year and net income of $ 100,000. Total assets were $ 800,000 at the end of last year.

a. Calculate the net profit margin of the business.

b. Calculate the company's asset turnover.

c. Calculate venture profit from total assets.

2. Linda and Lani founded a company that manufactures ice cream in cup packaging. The company began to produce a few unique and unified flavors in a limited edition. Revenue in 2017 is $ 600,000 and an estimated $ 1.2 million in 2018. Linda and Lani sell ice cream that contains premium ingredients, each 1 cup pack sells for $ 3 and the average cost of producing ice cream is $ 1.50 per 1 cup. Other expenses plus an average tax of an additional $ 1 per cup of ice cream in 2017 and an estimated $ 1.20 per cup in 2018.

a. Determine the number of ice cream cups sold each year.

b. Determine the gross profit and net profit for Linda and Lani's business in 2017 and 2018.

c. Calculate gross profit margins and net profit margins in 2017 and 2018.