Toys R Us sells a variety of childrens toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021.

Sales revenue	$	71,800		Inventory (Mar. 31, 2021)	$	1,200
Advertising expense		5,300		Insurance expense		1,750
Rent expense		3,200		Sales discounts		2,450
Gain on sale of building		6,400		Salaries expense		8,300
Inventory (Mar. 1, 2021)		2,250		Income tax expense		3,100
Cost of goods sold		35,250

. Prepare a multiple-step income statement for the month ended March 31, 2021.

TOYS "R" US
Multiple-step Income Statement
For the month of March 2021
Net sales:
Total sales revenue
Net sales revenue
Operating expenses:
Total
Operating income
Non-operating items:
Total

2-a. Calculate the inventory turnover ratio for the month of March.

Inventory Turnover Ratio.
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3. Calculate the gross profit ratio for the month of March.

Gross Profit Ratio
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