Kequired:

Prepare a multiple$-$step income statement for the month ended July $31,2024.$

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

$2-$b$.$ Would you expect this ratio to be higher or lower in December $2024?$

Calculate the gross profit ratio for the month of July.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2a$

Required $2b$

Required. $3$

Calculate the gross profit ratio for the month of July.

$\backslash$table$[[$Gross Profit Ratio$],[$Numerator$/$Denominator$,$Amounts$]]$