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h ezto.mheducation.com Chapter 6 Assignment Seved Help 7 Required Information The following information applies to the questions displayed below) Part 2 of 2 Below are amounts found in the income statements of three companies. points Company Henry Grace Janes Sales Revenue $12,000 15,000 20,000 Cost of Goods Sold $ 3.000 10.000 12,000 Operating Experises 54.000 6.000 2,000 Non operating Expenses $1,000 3,00 Income Tax Expense $1,000 2,000 Hint 2-a. For each company, calculate the gross profit ratio, Gross Profit Ratio Harry Grace James Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $13,680 Sales revenue 2,250 Interest income 1,200 Cost of goods sold 3,550 Rent expense 5,900 Interest expense Inventory (July 31, 2021) $69,300 3,200 28, 650 6,600 500 1,200 Required: 1. Prepare a multiple-step income statement for the month ended July 31, 2021. BASKIN-ROBBINS Multiple-step Income Statement For the month of July 2021 Net sales: Total sales revenue Net sales revenue Operating expenses: 0 Total Operating income Non-operating items: Saved Help Chapter 6 Assignment 9 Part 2 Required information (The following information applies to the questions displayed below) 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 2021. 0.5 points Solaries expense Inventory (July 1, 2021) Sales retorns Vi expense Income tax expense $13,600 Sales revenue 2,250 Interest income 1,200 Cost of goods sold 3,550 Rent expense 5,900 Interest expense Inventory (July 21, 2021) $69,300 3,200 28,65e 6.600 500 1,200 Print 2... Calculate the inventory tumover ratio for the month of July Inventory Turnover Ratio Required information [The following information applies to the questions displayed below.) Baskin-Robbins is one of the world's largest specialty lice 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. Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $13,600 Sales revenue 2,250 Interest income 1,200 Cost of goods sold 3,550 Rent expense 5,900 Interest expense Inventory (July 31, 2021) $69,300 3,200 28,650 6,600 500 1,200 3. Calculate the gross profit ratio for the month of July. Gross Profit Ratio