Selected amounts from the accounting records of Barringer Boats. Ltd., are listed in alphabetical order. Accounts payable.. $16.200 Owner's equity. Accumulated depreciation. 18,700 December 31, 20X0 $126.070 Cost of goods sold. 99.300 Sales discounts... 9.000 General expenses. 23,500 Sales returns. 4.600 Interest revenue. 1,500 Sales revenue 204.000 Inventory, December 31, 19X9.... 21.000 Selling expenses 37,800 Inventory. December 31, 20X0.... 19.400 Unearned sales revenue.... 6,500 Required 1. Prepare the business's multi-step income statement for the year ended December 31. 20X0. 2. Compute the rate of inventory turnover for the year. Last year the turnover rate was 3.8 times. Does this two-year trend suggest improvement or deterioration in inventory turnover?