Baskin-Robbinsis 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.

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 ofJuly 2021. Salaries expense $12,100 Sales revenue $61,800 Inventory (July 1, 2021) 1,500 Interest income 1,700 Sales returns 1,100 Cost of goods sold 27,900 Utilities expense 2,800 Rent expense 5, 100 Income tax expense 4,400 Interest expense 400 Inventory (July 31, 2021) 1,100 1. Prepare a multiple-step income statement for the month ended July 31, 2021. a Answer is complete but not entirely correct. Net sales: Total sales revenue Less: Sales returns Net sales revenue Cost of goods sold Gross prot Operating expenses: Salaries expense Utilities expense Rent expense Total Operating income Non-operating items: Interest income Interest expense Total Income before income taxes Income tax expense Net income