Cumber company hasauly scal year end and uses a perpetual inventory system the records of Cullumbar Conany show the following data 2021 2020 2019 Income statement Sales Cost of woods sold Operating expenses Balance sheet Merchandise inventory $350,000 245,000 70,000 $325.000 230,000 70.000 $360,000 275,000 70,000 54,000 45,000 35.000 After its July 31, 2021. year end Cullumber discovered two errors At July 31, 2020, Cullumber had $10,000 of goods held on consignment at another company that were not included in the physical count 2. Infly 2020, Cullumber recorded a $15,000 inventory purchase an account that should have been recorded in August 2020 Prepare corrected income statements for Cullumber for the years ended July 31, 2019 2020 and 2021 CULLUMBER COMPANY Income Statement Year Ended July 31 2021 2020 2019 e Textbook and Media Calculate the incorrect and correct inventory turnover ratios for 2020 and 2021. (Round answers to 2 decimal places, eg. 52.75.) 2020 2021 Incorrect inventory turnover times times times times Correct inventory turnover times e Textbook and Media