QUESTION 1 An animal shelter plans to sell T-shirts bearing their logo at an upcoming crafts fair. They find a supplier who charges $2.85 a piece for orange T-shirts. Printing the logo on the shirt requires an additional $0.70 per shirt. The group places an order for 300 T-shirts and pays a shipping fee of $22 upon receiving the T-shirts. The journal entry on the receipt date should include: Oa. A credit to inventory of $1,065 Ob.A debit to inventory of $855 Oc. A debit to inventory of $1,087 Od. A credit to inventory of $877 QUESTION 2 "Every company cooks its books to look better, so we're just doing what's expected." With respect to the Fraud Triangle, this statement is an example of Opportunity. O Verification. Rationalization. Incentive. QUESTION 3 American Importers reports cost of goods sold (COGS) of $367,500 and sales revenue of $600,000. What isthe company's gross profit margin percentage? (answer to two decimal places)