(1) Using the information provided by Karen, calculate (a) net sales for July this year (TY) vs. July last year (LY) and (b) customer return percent for July TY vs. LY. Has the percent increased or decreased? How will this affect the net sales and profitability of the contemporary department?

(2) Set up a skeletal profit-and-loss statement with the above data.

(3) Using the following formula: (% increase/decrease = (This year - Last year), Last Year) Calculate the net sales results TY compared to LY. Does the department have an increase or decrease? What could have caused the change in sales? Provide three strategies to increase sales.

(4) From the profit-and-loss statement in question 2, what is the profit percent for (a) TY and (b) LY? Provide three strategies to increase profit percent.

Department Store - Contemoporary Department July Results TY LY % % Gross Sales Customer Returns Net Sales Cost of Merchandise Sold Gross Margin Expenses Profit $110,000.00 $ 4,400.00 $105,600.00 $47,520.00 4% 100% 45% $ $115,000.00 $2,300.00 $112,700.00 $50,715.00 2% 100% 45% $58,080.00 $52,800.00 $5,280.00 55% 50% 5% $61,985.00 $50,715.00 $11,270.00 55% 45% 10% Department Store - Contemoporary Department July Results TY LY % % Gross Sales Customer Returns Net Sales Cost of Merchandise Sold Gross Margin Expenses Profit $110,000.00 $ 4,400.00 $105,600.00 $47,520.00 4% 100% 45% $ $115,000.00 $2,300.00 $112,700.00 $50,715.00 2% 100% 45% $58,080.00 $52,800.00 $5,280.00 55% 50% 5% $61,985.00 $50,715.00 $11,270.00 55% 45% 10%