QUESTION 1 The business plan is a valuable tool for all entrepreneurs, giving practical examples discuss the purpose of a business plan to entrepreneurship. (20 marks) Question 2 Use the following information to draw up your estimated: a. Your expected sales for each month given that the company policy is to add a 40% mark up on purchases. (4 marks) b. First quarter gross profit and net profit for the company. (16 marks) Months Expected sales ($) Estimated purchase ($) January ? 4 786.59 February ? 7 654.67 March ? 12 934. 76 April ? 16 431.12 Other monthly information Wages $3 568.98 Rental $1 546.87 Telephone $1 234.66 Electricity and water $1 245. 26 Fuel $3 789. 59