5. Mega Mart applies a Gross Margin of 20% on all items. Below is an incomplete extract of the Income Statement for the year ended March 31, 2019? $ $ Sales ? Less: Cost of Sales Opening stock 3,500,000 Purchases 500,000 4,000,000 Less: closing stock | 1, 500,000) 2,500,000 GROSS PROFIT ? Required: Calculate: a) Gross profit for the year. (3marks) b) Sales figure for the year (4marks) c) The gross margin ratio for the business (3marks)