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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
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 Income tax expense $12,100 1,500 1,100 2,800 4,400 Sales revenue Interest income Cost of goods sold Rent expense Interest expense Inventory (July 31, 2021) $61,800 1,700 27,900 5,100 400 1,100 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 Net sales revenue Operating expenses: Total Operating income Non-operating items: Total
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