Cambridge Technologies Inc. began 2020 with inwentary of $18,000. During the year, Cambridge purchased inventory costing $115.000 and sold goods for $140,000, with al transactions on account. Cambridge ended the year with inventory of $30,000. Cambridge prepared the following Journal entries under the periodic Inventory system at year end (Click the icon to view the Journal entries.) Requirements 1. Post to the Invenilory and cost of Goods Sulu accounts 2. Compute cost of goods sold by the cost-of-goods-sold model. 3. Prepare the December 2020 income statement of Cambridge Technologes Inc. through gross profit Requirement 1. Poat the beginning balancea) and al entries to the Inventory and Cost of Goods Sold accounts. (Leave any unused cells blank.) Inventory Coat of Goods Sold End bal. Endha Requirement 2. Compute cost of goods sold by the cost-of-good-sold model Plus: Goods available Cost of goods sold Requirement 3. Prepare the December 2020 income statement of Cambridge Technologies Inc. through grass proft. Cambridge Technologies Inc. Income Statement For the Year Ended December 31, 2020 Gross profit