The accounts of MOGUL Skis as of June 30, 2021, are listed in alphabetical order bbw For simplicity, all operating expenses are summarized in the accounts under Selling Expenses and General Expenses. MOGUL Skis uses the perpetual inventory system. Accounts Payable $ 303,000 Inventory $ 624,000 Accounts Receivable 318,000 Notes Payable, Long Term 759,000 Accum,. Amortization-Store Equiptment 61,500 Salaries Payable 44,600 G. Cote Capital, July 1, 2020 968,900 Sales Discounts 35,000 G. Cote Withdrawals 116,800 Sales Return And Allowances 62,800 Cash 47,750 Sales Revenue 1,812,200 Cost of Goods Sold 1,467,000 Selling Expenses 319,750 General Expenses 305,250 Store Equipment 675,000 Interest Expense 20,200 Supplies 17,500 Interest Payable 20,700 Unearned Revenue 37,000 Interest Revenue 2,150 Requirements: 1. Prepare MOGUL Skis' multiple-step income statement for the year ended June 30, 2021. 2. Prepare MOGUL Skis' statement of owner's equity as of June 30, 2021. 3. Prepare MOGUL Skis' classified balance sheet in report format as of June 30 2021. 4. Compute the gross margin percentage and the rate of inventory turnover for 2021 (rounded to one decimal place). Inventory on hand one year ago was $785,000. For 2020, MOGUL'S gross margin was 35 percent and inventory turnover were 4.3 times during the year. Does the two-year trend in these ratios suggest improvements or deterioration in MOGUL'S profitability