1. Lucy has a jewelry business. To make a certain necklace, she spends $3.38 on materials and $5.57 on labor. She then sells the necklace for $15.99. Lucy’s profit on the necklace is equal to the sale price minus the cost of materials and labor. (a) How much profit does Lucy earn when she sells a necklace? What fraction of the sale price of the necklace is profit? Record your answer as a fraction using whole numbers. (b) What decimal of every dollar of the sale price of the necklace is profit? Show your work. Round your answer to the nearest hundredth. (c) Lucy collected $223.86 selling necklaces at a craft fair. How many necklaces did Lucy sell? How much profit did she earn? Show your work.