Net sales for the year were $1,350,000 and cost of goods sold was $1,026,000 for the companys existing products. A new product is presently under development and has an expected selling price of not more than $74 per unit in order to remain competitive with similar products in the marketplace.

a. Calculate the missing percentages

Net sales $1,350,000 ????%

Cost of goods sold 1,026,000 ???%

Gross profit $324,000 24%