mework i 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 Utilities expense Income tax 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 1 Required 2a Required 2b Required 3. Net sales: Prepare a multiple-step income statement for the month ended July 31, 2024. $11,800 Sales revenue 1,350 Interest income 1,100 Cost of goods sold 2,650 Rent expense 4,100 BASKIN-ROBBINS Multiple-Step Income Statement For the Month of July 2024 Total sales revenue Net sales revenue Interest expense Inventory (July 31, 2024). Operating expenses: Total Operating Expenses Operating Income Nonoperating items: Total Nonoperating Items Required t Required 2a > $60,300 1,400 27,750 4,800 400 1,100 Saved

Baskin Robbins is one of the worid's largest speciaty ice cream shops. The compary oflers doseos of diflecant favon, from Very Berry Strowberry to lowfat Espresso 'n Cream, Assume that a locai Bassin Robeins in Raleigh North Carolina, tus the followng amounts for the month of July 2024 Required: 1. Prepare a multipie-step income statement for the month ended July 34, 2024 2-a. Calculate the inventory tumover ratio for the month of Juty 2b. Would you expect this ratio to be higher or lower in December 2024 ? 3. Colculate 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 monch ended July 31,2024