Inventory {Dec 31, 2021) Merchandise Purchases Gross sales Advertising Utilities Misc. Expenses $12,000 $62,000 $243,000 $1,500 $3,500 $1,500 Inventory {Jan 1, 2021} Salaries and Wages Supplies Interest expense Tax Rate $16,000 $42,000 $13,000 $4,500 30%