Ben runs a caf and requires your assistance in calculating benchmarks for his businesss performance. Ben isnt sure if it is important, but the money invested in inventory is pretty much the same as the end of the year. The cost of goods sold would equal the amount spent on purchases of inventory. Use the information in the below to answer the following questions:

1. Use the formula: cost of sales / turnover * 100 to calculate the cost of sales/turnover benchmark.
2. Use the formula: total expenses / turnover * 100 to calculate the total expenses/turnover benchmark.
3. Use the formula: rent / turnover * 100 to calculate the rent/turnover benchmark.

Required information:

Sales - $1,639,413

Contribution from owners - $450,000

Payments for inventory - $971,672

Payments for wages - $193,891

Payments for rates and utilities - $21,500

Payment for equipment and fittings - $219,700

Payment for insurance - $34,400

Payment for rent - $210,000