The Artisan Wines is a retail store selling vintage wines. On December 31, 2019, the firm's general ledger contained the accounts and balances below. All account balances are normal. Artisan Wines Worksheet Year Ended December 31, 2019 Trial Balance Debit Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Credit Debit Credit Debit Credit Debit redit Credit $28,286.00 498.00 760.00 5 28,286.8 Accounts Receivable Prepaid Advertising Supplies Merchandise Inventory Store Equipment Accumulated Depreciation-Store Equipment Office Equipment Accumulated Depreciation-Office Equipment Notes Payable, due 2020 Accounts Payable Wages Payable Social Security Tax Payable Medicare Tax Payable Unearned Seminar Fees Interest Payable vincent Arroyo, Capital Vincent Arroyo, Drawing Income 380.00 195.90 1,140.00 760.80 14,900.e0 24, 5ee.ee 11,900.00 14,980.8 11,900.80 24, 500.80 11,900.00 24, 500.8e 2,900.00 3,100.0e 6,000.00 6,000.00 4,980,88 4,900.8e 4,989.8e 1,49000 19,50e.ee 2,488.00 2,480.00 5,700.00 3,8e8.00 1,900.0e 1,980.06e 33,630.00 33,630.00 33,630.0e 14,81 14,918.8e 14,980.00 11,980.00 14,900.0 11,900.00 14,930.00 11,900.00 152,979.ee 152,979.ee Sales Discounts Seminar Fee Income Purchases Purchases Returns and Allowances 152,97.80 3,800.0e 990.80 190.00 190.00 3,800.0 9e,500.83 9e,500.80 90,500.00 13,180.83 23,900.e0 3,224.ea 13,180.80 24,300.e0 3,254.68 3,100.0e Rent Expense Wages Expense Payroll Taxes Expense Depreciation Expense-Store Equipment Depreciation Expense-Office Equipment Advertising Expense Supplies Expense Interest Expense Totals 13,180.80 24,300.80 3,254 3,100.00 3,100.80 380 380.00 195 , 09 195.80 140.00 237 $219,785.00 $219,785.00 $35,793.10 $35,793.10 $236, 303.10 $236,303.10 $151,36210 $169,660.80 $84,941.80 $66,643.1e $169,66.00 $169,666.80 $84,941.00 $84,941.0 1. Prepare a classified income statement for the year ended December 31, 2019. The company does not classify its operating expenses as selling expenses and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the year 3. Prepare a classified balance sheet as of December 31, 2019. Analyze: What is the inventory turnover for Artisan Wines