parts a. and b. thanks

MBI Inc. had sales of $37 million for fiscal 2019. The company's gross profit ratio for that year was 24% Required: a. Calculate the gross profit and cost of goods sold for MEI for fiscal 2019. (Enter your answers in millons rounded to 2 decimal places. (.e., 5,500,000 should be entered as 5.50) Gross profit Cost of goods sold million million b. Assume that a new product is developed and that it will cost $484 to manufacture. Calculate the selling price that must be set for this new product if its gross profit ratio is to be the same as the average achieved for all products for fiscal 2019.(Do not round intermediate calculations. Enter your answer in dollars rou 2 decimal places.) Selling prio c. From a management viewpoint, it could use the estimated selling price as a 'target in conducting marketing research studies to assess its ultimate prospects for success at this price. True