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 198,500
Electricity and gas 15,300
Telephone 1,790
Rent of premises 41,090
Office expenses 17,030
Calculate:
(a) gross profit
(b) net profit
(c) the total overheads as a percentage of the total sales.