Question: Instructions: Please write down calculation procedures used to come up with the final answer on a separate sheet of paper. Please highlight or circle your

Instructions: Please write down calculation procedures used to come up with the final answer on a separate sheet of paper. Please highlight or circle your nal answer. Missing calculations and not rounding to TWO decimal places (where applicable) will result in zero points. Each question is worth 5 points. 1. Determine the net prot or loss percent for the House of Holey Hose store if: Net sales = $1,475,000 Cost ofmerchandise = $ 5 15,000 Operating expenses = $5?,005 2. Joe Bob's House of Fashion had the following records: Gross sales = $995400 Customer returns & allowances = $1270 Cost of merchandise = $31,505 Operating expenses = $54,500 1What is the dollar net prot or loss

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