Would you expect this ratio to be higher or lower in December 2024? \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Gross Profit Ratio } \\ \hline Numerator/Denominator & Amounts & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Inventory Turnover Ratio } \\ \hline Numerator/Denominator & Amounts & \\ \hline & = & \\ \hline \end{tabular} Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2024. 2-a. Calculate the inventory turnover fatio 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