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. $69,300 3,200 Salaries expense $13,600 Sales revenue Inventory (July 2,250 Interest income 1, 2021) Sales returns Cost of goods 1,200 sold Utilities expense 3,550 Rent expense Income tax 5,900 Interest expense expense Inventory (July 31, 2021) 28,650 6,600 500 1,200 Required: 1. Prepare a multiple-step income statement for the month ended July 31, 2021. X Answer is complete but not entirely correct. BASKIN-ROBBINS Multiple-step Income Statement For the month of July 2021 Net sales: Total sales revenue $ 69,300 Less: Sales returns 1,200 Net sales revenue $ 68,100 Cost of goods sold 28,650 39,450 Gross profit Operating expenses: Utilities expense Rent expense Salaries expense 3,550 6,600 13,600 23,750 ax Total Operating income Non-operating items: Interest income Interest expense 3,200 500 2,700 Total Income before income taxes Income tax expense ax 5,900 Net income $