Required information: Problem 6-7A 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] 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 $13,300 Sales revenue Interest incone 2,100 1,200 Cost of goods sold 3,400 Rent expense 5,600 $67,800 2,900 28,500 6.300 Interest expense Inventory (July 31, 2021) 500 1,200 Problem 6-7A Part 1 Required: 1. Prepare a multiple-step income statement for the month ended July 31, 2021. 3 Net sales: BASKIN-ROBBINS Multiple-step Income Statement For the month of July 2021 For the month of July 2021 Total sales revenue Net sales revenue Operating expenses: Total Operating income Non-operating items: Total