Selected amounts from the accounting records of Pretty Tree Markets for the year ended December 31, 2020, follow. (Click the leon to view the accounting records.) Required 1. Pretty Tree Markets uses the perpetual inventory system, Prepare the business's m 2 Compute the rate of inventory turmover for the year. The inventory balance on Decen Smes. Does this two-year trend suggest improvement or deterioration in inventory tu 3. Compute the gross margin percentage, and compare it with last year's value of 49.2 current year? Accounting records Dec 31 Sales Revenue Interest Revenue Requirement 1. Pretty Tree Markets uses the perpetual inventory system. Prepare the t Begin with the heading, and then complete the body of the statement, one section at a t December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 Balance Sheet Income Statement Pretty Tree Markets Statement of Owner's Equity I 4.66 283.000 2,000 Income Summary 285,000 31 Income Summary 235,200 Cost of Goods Sold 185,000 Sales Discounts 400) Sales Resumes and Allowances 4,400 Seng Expense 37,400 General Expenses 19.000 31 Income Summary 40,800 Macin, Capital 40.000 Maple, Capital 36,000 Macie, Withdrawals 36,000 Print Done