Problem 6-7A Prepare a multiple-step income statement and calculate the inventory turnover ratio and gross profit ratio (L06-2, 6-7) [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 Income tax expense $12,300 Sales revenue 1,600 Interest income 1,000 cost of goods sold 2.900 Rent expense 4,600 Interest expenso Inventory (July 31, 2021) $62,800 1,900 28,000 5,300 300 1,000