1. A merchandising company knows that its COGS is 60% of sales and its net profit is 60,000. If total sales are $400,000. Complete the income statement and express cach line as a percent of sales. Income statement % of sales Sales $400,000 -COGS 60 -Gross Profit -Operating exp =Net Profit 60,000 2. The results of a recent BC election are summarized by party below: Votes Party Liberal 1,140,000 430,000 250,000 180,000 NDP Green Reform a. In a system of proportional representation - (cach party would receive seats in proportion to the number of votes) how many of the 79 seats would cach party receive? b. In the next election there were again 2 million votes cast. The Green and Reform parties received the same amount of votes as before but the NIDP received half' as many votes as the Liberals. How many seats would each party receive? (round to the nearest seat)