Required information Problem 6-7A Prepare a multiple-step income statement and calculate the inventory turnover ratio and gross profit ratio (LO6-2, 6-7) The fowowing information applies to the questions displayed below. 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 2021 Galaries expense Inventory (July 1,2021) Sales returns Utilitiea expense Income tax expense $13,700 Sales revenue 69,800 3,300 28,700 6,700 400 2,300 Interent incone ,100 Cost of goods sold 3,600 Rent expense 6,000 Interest expense Inventory (July 31, 202 1,100