Apply Insert, Update, and Remove Operations to a Keyed Store

You are given a list of operations that mutate an initially empty keyed record store. Implement manage_records(operations) to process each operation in the order it appears. Each operation is a list of three strings: [action, key, value]. "insert": if key is absent, add it with the given value and return "inserted"; if key already exists, return "exists" and leave the store unchanged. "update": if key exists, replace its current value with the provided value and return…