Each of the following gross profit percentages is expressed in terms of cost. 1. 23%. 2. 29%. 3. 38%. 4. 58%. Indicate the gross profit percentage in terms of sales for each of the above. (Round ratios to 2 decimal places, e.g. 78.70%.) Gross profit in terms of cost Gross profit in terms of sales 1. 23% % 2. 29% % 3. 38% % 4. 58% %