An engineering Business is expected to have revenues of 1 million each year. The costs of producing the manufactured items, consisting of Labour and raw materials, amounts to 600,000. The overheads are 50,000, the interest on debt is 50,000 and the tax rate is 35%. Calculate: i. The Gross profit? ii. What is the EBIT? iii. How much Tax is paid? iv. What is the Net Profit