Question 3 Tamarisk, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and unes 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 2020 through 2023, inclusive. A Calculate the missing amounts, ac b; ; ; ; f;g; h; ;j; ki 2020 2021 3022 2925 Income Statement Data $87,000 (e) $70,000 Cost of goods sold (4) 23,360 23,120 Gro profi 64,380 49,540 Operating expenses 37,420 (0 43,520 Net income 00 $2,920 Balance Sheet Date Inventory $12,000 3,300 (c) $13,200 6,000 4,100 Additional Information Purchases of inventory on account Cash payments appli 23,390 (0 90 $21.350 00 $22,050 B. Compute the gross profit rate and the profit margin for each fiscal year. (Round answers to 1 decimal place, eg 15.5%) Cross profit rate Profit margin 2021 2022 2023