Larkspur, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2015 through 2018, inclusive. Calculate the missing amounts. 2015 2016 2017 2018 Income Statement Data Sales revenue $100,766 e) $85,509 Cost of goods sold 29,182 27,550 62,005 Gross profit Operating expenses Net income Balance Sheet Data Inventory Accounts payable Additional Information Purchases of inventory on account Cash payments to suppliers 70,512 66,186 54,985 3,650 $13,520 c) $15,288 6,032 6,760 4,784 26,926 0) $25,012 d) 25,636 Compute the gross profit rate and the profit margin for each fiscal year. 2016 2017 2018 Gross profit rate (Round to 2 decimal places, e.g. 15.50%.) Profit margin (Round to 2 decimal places, e.g. 15.30%.) Click if you would like to Show Work for this question: Open Show Work