Zhou 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.

Instructions
(a) Calculate live missing amounts.
(b) The vice presidents of sales, marketing, production, and finance are discussing the company's results with the CEO. They note that sales declined over the 3-year fiscal period, 2016 2018. Does that mean that profitability necessarily also declined? Explain, computing the gross profit rate and the profit margin for each fiscal year to help support your answer.

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2015 2016 2017 2018 Income Statement Data Sales revenue Cost of goods sold Gross proft $96,890 (e) 82,220 26.490 28,060 59,620 67,800 63,640 (f52870 $ (b) $ 3,510 S i) Net income Balance Sheet Data Accounts payable Purchases of inventory $13,000 5,800 $ (c) 6,500 $14,700S (k) 4,600 on accoINL Cash payments to suppliers $25,890 ( $24,050 24,650