Moore Inc. purchases its merchandise inventory on credit (on account) and uses a perpetual inventory system. The company began operations on January 1, 2020 and has a December 31 year end. During 2020: Moore purchased merchandise costing $300,000. Of this amount, 65% was paid in 2020 with the balance paid in 2021. Moore sold 60% of its inventory for $525,000 on credit (on account). Of this amount, 70% was collected in 2020 with the rest collected in 2021. Operating expenses of $115,000 were incurred and all were paid by the end of the year (2020). Ignore income taxes. Required (parts a & b): a) Complete the following information for the December 31, 2020 year end (please show your calculations on a separate page): Income statement data Sales Cost of goods sold Gross Profit Operating expenses Income from Operations Statement of Financial Position data Accounts receivable Inventory Accounts payable b) Calculate the gross profit margin (gross profit %) and the profit margin (profit %) for Moore Inc