The Income Statement of Bearwald Company Is Shown Below $\quad$

The income statement of Bearwald Company is shown below.
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Bearwald Corporation }$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Condensed Income Statement }$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Year Ended December 31, } 2012$

$\begin{array}{lrr}\text { Sales } & & \$ 350,000 \\\text { Cost of goods sold } & & \underline{217,000} \\\text { Gross profit } & & \$ 133,000 \\\text { Operating expenses } & \$ 45,000 & \\\quad \text { Wages } & 2,000 & \\\quad \text { Depreciation } & \underline{8,000} & \underline{55,000} \\\quad \text { Rent } & & \$ 78,000\\\text { Other revenues and expenses }\\ \text { Rent revenue } & \$ 800 \\\text { Interest revenue } & \underline{200} & \\\text { Total other revenue } & & \$ 1,000 \\\quad \text { Deduct: interest expense } & & \underline{500} \\\text { Income before income taxes } && \$ 78,500\\\text { Income taxes } & & \underline{19,625} \\\text { Net Income } & & \underline{58,875}\end{array}$
Required:
1. Calculate the gross profit percentage.
2. Calculate the return on sales.
3. What term is often used in place of sales or sales revenue? Which organizations typically use this term?