Please show all work:

1. If a retailer buys a product for $30 and sells it for $50, what is the markup percentage, if the markup is based on Cost? If based on Retail?

2. 12. If a retailer can sell an item for $6 and needs a 40% markup on retail to meet profit objectives, the retailer should pay no more that ____________ for the item.

3. A retailer purchases goods that have a list price of $7,500. The manufacturer allows a trade discount of 40-25-10 and a cash discount of 2/10, net 30. If the retailer takes both discounts, how much is paid to the retailers vendor?

4. The Alamo Hardware Store is trying to determine its net profit before taxes. Use the following data to determine: Gross Margin, Operating Expenses, Operating Profit and finally Net Profit before taxes.

rent: $36,000

purchases: $400,000

ending inventory: $163,000

beginning inventory: $148,000

salaries: $94,000

sales: $586,000

utilities: $45,000

other income: $5,300

15. A buyer submits the following plans to his general merchandise manager:

planned sales $135,000

planned initial markup: 40%

planned reductions: $41,000

Based on these projections, what is the planned maintained markup percentage?