Northern Telecommunications reported these figures in its December 31, 2020, financial statements, (Click the icon to view the figures.) Compute the gross margin percentage and rate of inventory tumover for 2020. One year earlier, on December 31, 2019, Northern's inventory balance was $600. Compute the gross margin percentage for 2020. (Round the gross margin percentage to the nearest whole percent.) What is the gross margin percentage for 2020? Compute the rate of inventory turnover for 2020. One year earlier, on December 31, 2019, Northern Telecommunications's inventory balance was $600. (Round the inventory turnover rate to one decimal place.) How many times per year is the inventory turnover for 20207 Figures $ Accounts payable Accounts receivable Accrued liabilities Cash 8,600 6,200 5,000 8,400 54,000 31,000 900 Cost of goods sold Equipment, net Inventory Long-term note payable Net sales revenue Total operating expenses V. North, capital 2,600 60,000 17,000 30,300 Print Done