The Fun Zone 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 2024, Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (March 1, 2024) Cost of goods sold $ 74,800 5,900 Inventory (March 31, 2024) $ 1,200 Insurance expense 2,050 3,000 Sales discounts 2,750 8,9001 2,550 Income tax expense 3,700 35,550 7,000 Salaries expense Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2024. 2-a. Calculate the Inventory turnover ratio for the month of March. Net sales: Multiple-Step Income Statement For the Month of March, 2024 Total sales revenue Net sales revenue Operating expenses: Total Operating income Nonoperating items: Total 0 Required 1 Required 2a Required 2b Required 3 Calculate the inventory turnover ratio for the month of March. Inventory Turnover Ratio Numerator/Denominator Amounts IE 0