2. EX.05-01 Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of the goods sold is $7,050,000. a. What is the amount of the gross profit? $ 4700000 b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number. % 40% c. When will the income statement report net income? 3. EX.05-02. Algo (Algorithmic) Determining Cost of Goods Sold For a recent year, TechMart reported sales of $50,695 million. Its gross profit was $13,181 million. What was the amount of Tech Mart's cost of goods sold? (Enter answer in millions.) $ 37514 million 4. EX.05-04 Purchase-Related Transactions A retailer is considering the purchase of 250 units of a specific item from either of two suppliers. Their offers are as follows: Supplier One: $400 a unit, total of $100,000, 1/10, 1/30, no charge for freight. Supplier Two: $399 a unit, total of $99,750,2/10, 1/30, plus freight of $975. Price of Supplier One: $250.000 Price of Supplier Two: $ 100, 125 6. DE.06-03 Use the Dynamic Exhibit to answer the following questions. 1. When the number of units sold on November 21 is 36, the cost of merchandise sold on November 21 is $ 2. When the number of units sold on November 21 is 36, the ending inventory on November 30 is $ 3. When the number of units sold on November 21 is 8, the cost of merchandise sold on November 21 is $ 4. When the number of units sold on November 21 is 50, the ending inventory on November 30 is $