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 2024. Salaries expense Inventory (July 1, 2024) Sales returns $13,500 Sales revenue $68,800 2,200 Interest income 3,100 1,000 Cost of goods sold 28,600 Income tax expense 3,500 Rent expense 5,800 Interest expense 6,500 300 Inventory (July 31, 2824) 1,000 Utilities expense 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. Required Required Required Required 2a 2b 3 Prepare a multiple-step income statement for the month ended July 31, 2024. Net sales: BASKIN-ROBBINS Multiple-Step Income Statement For the Month of July 2024 Total sales revenue Net sales revenue Operating expenses: Total Operating income Nonoperating items: Total Required 1 Required 2a >