Can you Please help to answer all the question with explanation?

Question 5: [10 marks! Moore Inc. purchases its merchandise inventory on credit (on account) and uses a perpetual inventory system. The company began operations on January 1,2016 and has a December 31 year end. During 2016: 0 Moore purchased merchandise costing $3 00,000. Of this amount, 65% was paid in 2016 with the balance paid in 2017. 0 Moore sold 60% of its inventory for $525,000 on credit (on account). Of this amount, 70% was collected in 2016 with the rest collected in 2017. 0 Operating expenses of $1 15,000 were incurred and all were paid by the end of the year. a Ignore income taxes. Reguired [parts a & b}: a) Complete the following information for the December 31, 2016 year end (there is additional space on the next page for your calculations): Income statement data Statement of Financial Position data b) Calculate the gross prot margin (gross prot %) and the prot margin (prot %) for Moore Inc