3. (15 Points) Fill out the empty cells in the Income Statement below. This income statement is for a 1-year period. Here is what you know: The Gross Profit Margin is 75%. The Beginning Inventory and Ending Inventory are equal. The company has 5 inventory turns per year. Income Statement (Jan 1 - Dec 31) Sales (3 pts) Beginning Inventory (3 pts) Ending Inventory (3 pts) COGS (3 pts) Gross Profit (3 pts) Expenses 300,000 Net Profit 300,000