Splish Brothers 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.

20 15 2016 2012r 2010 income-I" Sales reve nue $133,?os _{e) $1 13,464 Cost of goods sold brie] 38,?23 36,556 Gross prot W W i{i] Operating expenses SL823 {f} H.951 Net income :h-{b} $ 4.344 IE'EE U} Balance Sheet Data m. Inventory $1?.e4o _| [c] $2o.2ao Em Accounts pava ble 8,0[14 8,9?[1 6,348 IE0] Additional Iniormatinn Purchases of inventor,f on account 35,?28 Em} Cash payments to suppliers E031} Em} 34,01? E Your answer is incorrect. Tm:r again. Compute the gross prot rate and the prot margin for each scal 1,rear. $33,189 2016 2012' 2018 Gross prot rate {Round to 2 declmal places, e.g'. % % or 15.50%.} Prot margin 1' Round to 2 decimal places, e.g. 15.30%.) Eula EDA: Bali