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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. Salaries expense $13,300 2,100 1,200 Sales revenue $67,800 Interest income Cost of goods sold Inventory (July 1, 2021) Sales returns Utilities expense 2,900 28,500 3,400 5,600 Rent expense 6,300 Interest expense Income tax expense 500 Inventory (July 31, 2021) 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 S 67,800 Less: Sales returns 1,200 Net sales revenue Cost of goods sold 28,500 Operating expenses Utilities expense 3,400 Salaries expense 13,300 6,300 Rent expense Total 23,000 Operating income Non-operating items Interest income 2,900 Interest expense 500 Total Income before income taxes 5,600 Net income 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. Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense $13,300 Sales revenue $67,800 Interest income 2,100 1,200 3,400 5,600 2,900 Cost of goods sold 28,500 Rent expense 6,300 Income tax expense Interest expense Inventory (July 31, 2021) 500 1,200 2-a. Calculate the inventory turnover ratio for the month of July. Inventory Turnover Ratio 0 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. Salaries expense Inventory (July 1, 2021) Sales revenue $67,800 $13,300 Interest income 2,100 1,200 2,900 28,500 Cost of goods sold Sales returns 6 expense Income tax expense Expense 500 5,600 nse Inventory (July 31, 2021) 1,200 3. Calculate the gross profit ratio for the month of July. Gross Profit Ratio