Please do in excel and show formulas! Thanks!

16. Given the following information, calculate the gross margin %: Cost Retail opening inventory $144,900.00 $345,000.00 gross purchases $101,200.00 $220,000.00 returns to vendors $11,500.00 $25,000.00 freight $2,000.00 additional markup $3,000.00 net transfers out $9,200.00 $22,000.00 CMU = total merch handled cost % = net sales $275,000.00 markdowns $35,000.00 markdown cancellations $5,000.00 employee discounts $3,000.00 total retail deductions closing book inventory gross cost of merch sold alterations costs $2,500.00 cash discounts $6,000.00 net cost of merch sold gross margin $ gross margin %