The percent a company adds to its cost of sales to

Question

The following data (in thousands of dollars) were adapted fromthe December 31, 2006, financial statements of Tootsie RollIndustries Inc.:

Sales                                              $495,990

Cost of goodssold                           310,507

Netincome                                        65,919

1. What is Tootsie Roll's percent of the cost of salesto sales? Round to one decimal place.
2. The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll'smarkup percent? Round to one decimal place.
3. What is the percentage of net income to sales for tootsieRoll? Round to one decimal place.