The Fun Zone sells a voriety of children's toys, games, books, and accessories. Assume that a local store has the following amounts fo the month of March 2C 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. 2-b. Would you expect this ratio to be higher or lower in December 2024? 3. Calculate the gross profit ratio for the month of March. Complete this question by entering your answers in the tabs below. Prepare a multiple-step income statement for the month ended March 31 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. 2-b. Would you expect this ratio to be higher or lower in December 2024 ? 3. Calculate the gross profit ratio for the month of March. Complete this question by entering your answers in the tabs below. Calculate the inventory turnover ratio for the month of March. Required: 1. Prepare a multiple-step income statement for the month ended March 31,2 2-a. Calculate the inventory turnover ratio for the month of March. 2-b. Would you expect this ratio to be higher or lower in December 2024? 3. Calculate the gross profit ratio for the month of March. Complete this question by entering your answers in the tabs below. Would you expect this ratio to be higher or lower in December 2024? 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. 2-b. Would you expect this ratio to be higher or lower in December 2024 ? 3. Calculate the gross profit ratio for the month of March. Complete this question by entering your answers in the tabs below. Calculate the gross profit ratio for the month of March