CALCULATION SCENARIOS(50 points) Read the scenarios and answer all the questions. Remember, you must show your work; i.e., you must show the steps and formula that you used to arrive at your answer. Without showing the logic and formulas used, you will not get credit for a response Place your calculations and sircls your answers on this sheet. Do this neatly: Use the last sheet or the back of sheets for any seratch work you need to do. 1. ( (4 points) Robert Stevens, a retailer of sporting goods, uses an average markup on cost of 150% throughout his store. Therefore, his equivalent gross profit margin is 2(4 points) A manufacturer of window treatments requires a gross profit margin of 42% on a new product he is bringing into his line. Therefore, he must markup his costs cost percentage?] %. [In other words, what is his markup on 3. (8 points) A manufacturer with annual net sales of S4 million maintains an average markun oncost of 60%. Operating expenses average 30%. What is the manufacturer's gros,rofit margin in dollars, and what is his net profit in dollars? 4. (4 points) Flush Tight Corp. had $50,000,000 in sales last year supplying pipe and pipe fittings to plumbing suppliers. The cost of producing their products and preparing them during the same fiscal year for delivery to their customers was $35,000,000 What was Flush Tight's Gross Profit Margin in percentage last year