Baskin Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfot Espresso 'n Cream Assume that a local Baskin Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021 Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $12,900 Sales revenue 1,900 Interest Income 1,000 Cost of goods sold 3,200 Rent expense 5,200 Interest expense Inventory (July 31, 2021) $65,800 2,500 28,300 5,900 300 1,000 Required: 1. Prepare a multiple-step income statement for the month ended July 31, 2021 Answer is not complete BASKIN-ROBBINS Multiple-step Income Statement For the month of July 2021 Net sales: Total sales revenue S 65,800 Less Sales returns (1,000) Net sales revenue 64,800 Cost of goods sold 28,300 36,500 S O Operating expenses 14 $ $ Required information Total sales revenue Less: Sales returns Net sales revenue Cost of goods sold 65,800 (1,000) Part 1 of 3 $ 64,800 28,300 36,500 10 points Operating expenses: Salaries expense Utilities expense Rent expense 12,900 3,200 5,900 >$ 22,000 14,500 Total Operating income Non-operating items: Interest income Interest expense 2,500 (300) Total Income before income taxes 2,200 16,700 5,200 Income tax expense Net Income $ 11,500 3 Required information (The following Information applies to the questions displayed below) Baskin Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfat Espresso 'n Cream. Assume that a local Baskin Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021. Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $12,900 Sales revenue 1,900 Interest income 1,000 Cost of goods sold 3,200 Rent expense 5,200 Interest expense Inventory (July 31, 2021) $65,800 2,500 28,300 5,900 300 1,000 nces 2-a. Calculate the inventory turnover ratio for the month of July. Inventory Turnover Ratio Required information [The following information applies to the questions displayed below.) Baskin Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfat Espresso 'n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021. Salaries expense Inventory Ouly 1, 2021) Sales returns Utilities expense Income tax expense $12,900 Sales revenue 1,900 Interest income 1,000 Cost of goods sold 3,200 Rent expense 5,200 Interest expense Inventory (July 31, 2021) $65,800 2,500 28,300 5,900 308 1,200 3. Calculate the gross profit ratio for the month of July. Gross Profit Ratio