Baskin Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, Strawbery to lowfat Espresso in Crearn. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following the month of July 2024 Required: 1. Prepare a multiple-step income statement for the month ended July 31,2024. 2-a. Calculate the inventory tumover ratio for the month of July. 2-b. Would you expect this ratio to be higher or lower in December 2024 ? 3. Calculate the gross profit ratio for the month of July. Complete this question by entering your answers in the tabs below. Prepare a multiple-step income statement for the month ended July 31, 2024. 4 Prepare a multiple-step income statement for the month ended July 31,2024 BASKII-ROBEINS Multiple-Step Income Statement For the Month of July 2024 Net sales: Total sales tevenue Net sales rewenue ces Operating expenses: Total Operating Expenses Operating income Nonoperating tems Baskin-Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of Strawberry to lowfat Espresso 'n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, tha manth of Julv 2024. Required: 1. Prepare a multiple-step income statement for the month ended July 31,2024. 2-o. Calculate the inventory turnover ratio for the month of July. 2-b. Would you expect this ratio to be higher or lower in December 2024 ? 3. Calculate the gross profit ratio for the month of July. Complete this question by entering your answers in the tabs below. Calculate the inventory turnover ratio for the month of July. Baskin-Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of diffe Strawberry to lowfat Espresso in Cream. Assume that a local Baskin-Robbins in Raleigh. North Carolina, has the month of July 2024 Required: 1. Prepare a multiple-step income statement for the month ended July 31,2024. 2-a. Calculate the inventory turnover ratio for the month of July. 2-b. Would you expect this ratio to be higher or lower in December 2024? 3. Calculate the gross profit ratio for the month of July. Complete this question by entering your answers in the tabs below. Would you expect this ratio to be higher or lower in December 2024 ? fould you expect this ratio to be higher or lower in December 2024 ? Baskin frobbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, fror Strawberry to lowfat Espresso 'n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following the morth of July 2024 . Required: 1. Prepare a multiple-step income statement for the month ended July 31,2024. 2-o. Calculate the inventory tumover ratio for the month of July. 2-b. Would you expect this ratio to be higher or lower in December 2024? 3. Calculate the gross profit ratio for the month of July Complete this question by entering your answers in the tabs below. Calculate the gross profit ratio for the month of July
