Carla Vista Company has a July 31 fiscal year end and uses a perpetual inventory system. The records of Carla Vista Company show the following data: 2021 2020 2019 Income statement: Sales Cost of goods sold Operating expenses Balance sheet: Merchandise inventory $360,000 255,000 76,000 $335,000 240,000 76,000 $350,000 265.000 76,000 52,000 45,000 35,000 After its July 31, 2021. year end, Carla Vista discovered two errors: At July 31, 2020, Carla Vista had $10,000 of goods held on consignment at another company that were not included in the physical count. In July 2020. Carla Vista recorded a $15,000 inventory purchase on account that should have been recorded in August 2020 1. 2. Prepare corrected income statements for Carla Vista for the years ended July 31, 2019.2020 and 2021 CARLA VISTA COMPANY Income Statement Year Ended July 31 2020 2021 2019 Sales 360000 335000 35000 Cost of Goods Sold 245000 245000 265000 Gross Profit 11500 90000 8500 76000 1 76000 1 76000 Operating Expenses Profit/Loss 39000 14000 900 Calculate the incorrect and correct inventory turnover ratios for 2020 and 2021 (Round answers to 2 decimal places, es, 52.75.) 2020 2021 5.25 6 times times Incorrect inventory turnover Correct inventory turnover B times 8:25 times