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A retail company's total sales in a year were £2,710,000. The cost price of goods sold was £2,040,000. During the year the following overheads were paid (treat wages as overheads):
£
Wages 198,500Electricity and gas 15,300Telephone 1,790Rent of premises 41,090Office expenses 17,030
Calculate:
(a) gross profit
(b) net profit
(c) the total overheads as a percentage of the total sales.
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