Refer to the income statements presented in Exhibit 2.11 for Melia Hotels International S.A.

Calculate gross profit margin (gross profit/sales), operating profit margin (operating profit/sales), and net profit margin (net earnings/sales) for this company. If a particular ratio cannot be calculated, explain why not.

EXHIBIT 2.11 MELIA HOTELS INTERNATIONAL S.A. Consolidated Profit and Loss Account (Thousands of () Note 2016 2015 Operating income 7.1 1,801,962 1,738,207 Expenses 7.2 (222,783) (214,823) Staff costs 7.3 (489,707) (463,321) Other costs 7.4 (640,167) (623,253) EBITDAR 449,305 436,810 Leases 20.1 (163,727) (143,733) EBITDA 6.1 285,578 293,078 Amortization and impairments 7.5 (111,452) (129,130)Negative consolidation difference 7.6 1,621 EBIT/Operating profit 175,746 163,948 Exchange results 4,676 10,409 Bank financing (42,121) (70,708) Other financial results 7,701 1,756 Financial result 7.7 (29,743) (58,542) Results of entities measured by the equity method 12 1,585 (3,787) RESULT BEFORE TAXES 147,588 101,619 Corporate income tax (44,640) (61,103) CONSOLIDATED RESULT 102,948 40,515 A) Attributed to the parent company 8 100,693 35,975 B) Attributed to minority interests 15.7 2,255 4,541