Question 2 (1 point) In 2019, Paul's Guitars had revenue (gross sales) of $256,425. It began the year (Jan 1st, 2019) with $22,380 in inventory and then the company purchased another $ 103,635 during the year. It finished the year (Dec 31st, 2019) with $21.250 in inventory. Total Operating expenses were $130,685 and income taxes were $8,390. Calculate the following: What is the company's "Net Income"? $ 20,975 $ 12,585 None of the answers are correct; my calculation is correct. $117,350 Question 8 (1 point) In 2019, Paul's Guitars had revenue (gross sales) of $256,425. It began the year (Jan 1st, 2019) with $22,380 in inventory and then the company purchased another $103,635 during the year. It finished the year (Dec 31st, 2019) with $21,250 in inventory. Total Operating expenses were $130,685 and income taxes were $8,390. Calculate the following: What is the company's "Gross Profit"? $109,160 $151,660 $130,410 None of the answers are correct; my calculation is correct. Question 11 (1 point) Jim owns The Jersey Hut, a small retail store that carries licensed professional sport jerseys (e.g., Baseball, Football, Hockey, and Basketball). Jim's annual store rent is $22,800, his annual utility costs are $10,200 and store insurance is $3,000. The licensed baseball jersey cost $17.50 to buy, the football jerseys cost him $16.00 to buy, the Hockey jersey cost $23.50 to buy and the basketball jersey is $15.00 to buy. He is selling the baseball jersey for $59.99, the football jersey for $54.99, the hockey jersey for $79.99 and the basketball jersey for $49.99. Which of the jerseys that Jim sells has the highest mark-up percentage? Football Hockey Baseball Basketball