A retail store realizes a markup of $31.50 if it sells an article at a markup of

Question:

A retail store realizes a markup of $31.50 if it sells an article at a markup of 35% of the selling price.
(a) What is the regular selling price?
(b) What is the cost?
(c) What is the rate of markup based on cost?
(d) If overhead expense is 28% of cost, what is the total cost?
(e) If the article is sold at a markdown of 24%, what is the operating profit or loss?