gero Propiers See Hel 14 rt 1 of 3 Required Information Problem 6-78 Prepare a multiple-step income statement and calculate the inventory turnover ratio and gross profit ratio (LO6-2, 6-7) [The following information applies to the questions displayed below) Toys"R"Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following Into amounts for the month of March 2021 eBook Print References Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $75,300 6,000 3,900 7.100 2,600 35,600 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,100 2,100 2,800 9,000 3,800 Problem 6-7B Part 1 Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2021. TOYS"R"US Multiple-step Income Statement For the month of March 2021 M Her 14 TOYS"R"US Multiple-step Income Statement For the month of March 2021 Net sales Total sales revenue Part 1 of 3 Net sales revenue 10 points eo Operating expenses References Total Operating income Non-operating items Total 15 ! art 2 of 3 Required information Problem 6-7B Prepare a multiple-step income statement and calculate the inventory turnover ratio ar gross profit ratio (LO6-2, 6-7) [The following information applies to the questions displayed below) Toys"R"Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the followin amounts for the month of March 2021 ints eBook Print References Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 20217 Cost of goods sold $75,300 6,000 3,900 7,100 2,600 35,600 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,100 2,100 2,800 9,000 3,800 Problem 6-7B Part 2 2-a. Calculate the inventory turnover ratio for the month of March Inventory Turnover Ratio 16 Part 3 of 3 Required information Problem 6-7B Prepare a multiple-step income statement and calculate the inventory turno gross profit ratio (L06-2, 6-7) [The following information applies to the questions displayed below.) Toys "R" Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has amounts for the month of March 2021. 10 points eBook Print Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $75,300 6,000 3,900 7,100 2,600 35,600 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,100 2,100 2,808 9,000 3,888 References Problem 6-7B Part 3 3. Calculate the gross profit ratio for the month of March Gross Profit Ratio
