Billy Bling's retail store is well-known for fine iowelrv in his hometown. Last year its net sales totaled 5120.500. The cost value of the items sold was $72.300. Taxes for the year were $7.680. The only expenses that the operation had were (1) rent for 5200 . (2) salaries to the owner and one part-time assistant for $22.000. (3) administrative expenses of $200, and (A) utilitics at $1,300. Billy Bling PART 1: calculate the gross margin ( 5 pts.) Question 2 Billy Bling's retail store is woll-known tor fne iewelry in his hometown. Last vear its net sales totaled \$120.500. The cost value of the items sold was $72.300. Taxes for the yoar were 57.680. The only. expenses that the operation had wore (1) rent for $200.(2) salaries to the owner and one part-time assistant for $22,000,(3) administrative expenses of $200, and (4) utilities at $1,300. Billy Bling PART 2: caiculate the net profit before tax ( 5 pts.) 524:500 536.150 548,200 558.500 52377a