7 chegg.com/homework-help/questions and answers/12-x-fx-bcd-h-j-k-I-m-kingbird-inc-operates-retail-operation purchases-s... 2020 $ $ $ $ $ 2021 2022 2023 71,000 $ 66,360 $ 62,000 20,590 $ 20,800 $ 20,400 50.410 $ 45,560 $ 41,600 46,860 $ 42,960 $ 38,400 3,550 $ 2,600 $ 3.200 Income Statement Data Sales Revenue (note-5) Cost of Goods Sold (note-1) Gross Profit(Note 7) Operating Expenses Net Income (Note -2) Balance sheet Data Inventory (Note-3) Accounts Payable (note 8) Additional Information Purchase Inventory on account (Note-6) Cash Payment to supplier $ $ 10,400 $ 4,500 $ 9,200 5,200 $ $ 10,800 $ 3,300 $ 7,950 2,800 $ 19,390 S 22,400 $ 17,550 (note-4) $ 18,690 $ 24,300 $ 18,050 AMD Radeo) 4/4/2020 (b2) Compute the gross profit rate and the profit margin for each fiscal year. (Round answers to 1 decimal place, e.g. 15.5%.) 2021 2022 2023 Gross profit rate 70 Profit margin e Textbook and Media List of Accounts Save for Later