2.3. Using the profit-and-loss statement you developed in question 2.2b, and assuming that Westgate's beginning inventory was $15 million, ending inventory was $11 million, and total investment was $20 million including inventory, determine the following: gross margin percentage b. net profit percentage c, operating expense percentage d. inventory turnover rate e. return on investment (ROD) f net marketing contribution g marketing return on sales (marketing ROS) h. marketing return on investment (marketing ROI i. Is the Westgate division doing well? Explain your answer a. 2.2. Develop a profit-and-loss statement for the Westgate division of North Industries. This division manufactures light fixtures sold to consumers through home improvement and hardware stores. Cost of goods sold represents 30% of net sales, Marketing expenses include selling expenses, promotion expenses, and freight. Selling expenses include sales salaries totaling $4 million per year and sales commissions (4% of sales). The company spent S4 million on advertising last year, and freight costs were 4% of sales. Other costs include $2 million for managerial salaries and expenses for the marketing function and another $3 million for indirect overhead allocated to the division. a. b. c. Develop the profit-and-loss statement if net sales were S15 million last year. Develop the profit-and-loss statement if net sales were $30 million last year. Calculate Westgate's breakeven sales. 2.3. Using the profit-and-loss statement you developed in question 2.2b, and assuming that Westgate's beginning inventory was $15 million, ending inventory was $11 million, and total investment was $20 million including inventory, determine the following: gross margin percentage b. net profit percentage c, operating expense percentage d. inventory turnover rate e. return on investment (ROD) f net marketing contribution g marketing return on sales (marketing ROS) h. marketing return on investment (marketing ROI i. Is the Westgate division doing well? Explain your answer a. 2.2. Develop a profit-and-loss statement for the Westgate division of North Industries. This division manufactures light fixtures sold to consumers through home improvement and hardware stores. Cost of goods sold represents 30% of net sales, Marketing expenses include selling expenses, promotion expenses, and freight. Selling expenses include sales salaries totaling $4 million per year and sales commissions (4% of sales). The company spent S4 million on advertising last year, and freight costs were 4% of sales. Other costs include $2 million for managerial salaries and expenses for the marketing function and another $3 million for indirect overhead allocated to the division. a. b. c. Develop the profit-and-loss statement if net sales were S15 million last year. Develop the profit-and-loss statement if net sales were $30 million last year. Calculate Westgate's breakeven sales