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, 2821) Sales returns Utilities expense Income tax expense $11,800 Sales revenue 1,350 Interest income 1,100 Cost of goods sold 2,650 Rent expense 4,100 Interest expense Inventory (July 31, 2021) $60,300 1,400 27,75e 4.800 10 1,100 3. Calculate the gross profit ratio for the month of July. Gross Profit Ratio