APPLICATION: (SHOW ALL CALCULATIONS) Given the following: Income Statement (End of Year, 2017) Industry % of sales Net Sales 500,000 100 Less: Inventory (B) 60,000 12 Gross Purchases 200,000 40 Less: discounts 20,000 4 Net Purchases 180,000 36 Total Goods Available 240,000 48 Less: inventory (E) 75,000 10 Total Cost of Goods Sold 165,000 38 Gross Margin: 335,000 62 Less: Variable Expenses Sales Commissions 130,000 26 Deliveries 5,000 1 135,000 27 Contribution Margin 200,000 35 Less: Fixed Expenses Rent 50,000 10 Salaries 95,000 12 Distribution Rights 5,000 1 150,000 23 Net Profit (BT) 50,000 12 a. If there is a/are performance problem(s), what is/are the major source(s) of the discrepancy(ies) between the industrys marketing performance and that of your employer? Show your calculations and explain your answer (be specific)