6. Price smart applies a Gross Mark-up of 25% 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 Purchases 2,500,000 500,000 3,000,000 (1, 500,000) Less: closing stock 1,500,000 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)