2.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?

$?

b.Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number.

%?

3.DeterminingCost of Goods Sold

For a recent year, TechMart reported sales of $31,044 million. Itsgross profitwas $7,761 million.

What was the amount of TechMart's cost of goods sold? (Enter answer in millions.)

$million?