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Baskin Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfat Espresso 'n Cream Assume that a local Baskin Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2024 $66,800 2,700 28,400 6,100 400 1,100 Salarios expense $13,100 Sales revenue Inventory (July 1, 2024) 2,000 Interest income Sales returns 1,100 Cost of goods sold Utilities expense 3,300 Rent expense Income tax expense 5,400 Interest expense Inventory (July 31, 2024) Required: 1. 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? 3. Calculate the gross profit ratio for the month of July. Complete this question by entering your answers in the tabs below. Required 1 Required Za Required 2b Required 3 Required 1 Required 2a Required 2b Required 3 Prepare a multiple-step income statement for the month ended July 31, 2024. BASKIN-ROBBINS Multiple-Step Income Statement For the Month of July 2024 Net sales: Total sales revenue Net sales revenue Operating expenses: Operating expenses: Total Operating income Nonoperating items: s Total nigher or lower in December 2024? 3. Calculate the gross profit ratio for the month of July. 10 Complete this question by entering your answers in the tabs below. Required 1 Required 2a Required 2b Required 3 Calculate the inventory turnover ratio for the month of July. Inventory Turnover Ratio Numerator/Denominator Amounts 11 3. 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 Would you expect this ratio to be higher or lower in December 2024? Would you expect this ratio to be higher or lower in December 2024?