[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 $11,900 Sales revenue 1,400 Interest income 1,200 Cost of goods sold 2,700 Rent expense 4, 2ee Interest expense Inventory (July 31, 2021) $68,888 1,500 27,8ee 4,900 see 1,200 3. Calculate the gross profit ratio for the month of July Gross Profit Ratio 31,800 Gross profit Net sales 0