Required information [The following information applies to the questions displayed below.] Toys R Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $75,300 6,000 3,900 7,100 2,600 35,600 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,100 2,100 2,800 9,000 3,800 Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2021. TOYS "R"US Multiple-step Income Statement For the month of March 2021 Net sales: Total sales revenue Net sales revenue Operating expenses: Total 0 Operating income Non-operating items: Total Required information [The following information applies to the questions displayed below.] Toys R Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods sold $75,300 6,000 3,900 7,100 2,600 35,600 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,100 2,100 2,800 9,000 3,800 2-a. Calculate the inventory turnover ratio for the month of March. Inventory Turnover Ratio 3. Calculate the gross profit ratio for the month of March. Gross Profit Ratio =