Question \#3 (25 marks) See Excel file to complete this question. Builders Company Inc. sells heavy-construction equipment. It has 10,000 common shares outstanding and its fiscal year ends on December 31. The adjusted trial balance was taken from the general ledger on December 31, 2020: Required: 1. Prepare a multiple-step statement of earnings (showing both gross profit and earnings from operations). Treat sales discounts as contra revenues. 2. The beginning balance of accounts receivable (net) was $16,000. Compute the gross profit percentage and receivables turnover ratio and explain their meaning