Accounting records Requirement 1. Parkplace Videos uses the perpetual inventory system. Prepare the business's multi-step income statement for the year ended December 31,2023. Begin with the heading, and then complete the body of the statement, one section at a time, as presented. Requirement 2. Compute the rate of inventory turnover for the year. The inventory balance on December 31,2022 , was $43,000 and on December 31,2023 , was $46,000. Last year the turnover rate ras 3.61 times. Does this two-year trend suggest improvement or deterioration in inventory turnover? (Round the inventory turnover ratio to two decimal places, X.XX.) he rate of inventory turnover for the year is Vhen compared to last year's inventory turnover of 3.61 times, this year's inventory turnover rate improvement because this year's inventory turnover is last year's. Requirement 3. Compute the gross margin percentage, and compare it with last year's value of 44.36 percent for Parkplace Videos. Does this two-year trend suggest better or worse profitability uring the current year? (Enter the gross margin percentage as a percentage rounded to two decimal places, X.XX\%.) Sross margin percentage =1 Vhen compared to last year's gross margin percentage of 44.36 percent, this year's gross margin percentage improvement because this year's gross margin percentage is last year's