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 following 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 Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $13,300 Sales revenue 2,100 Interest Income 1,200 Cost of goods sold 3,400 Rent expense 5,600 Interest expense Inventory (July 31, 2021) $67,800 2,900 28,500 6,300 500 1,200 1. Prepare a multiple-step income statement for the month ended July 31, 2021. BASKIN-ROBBINS Multiple-step Income Statement For the month of July 2021 Net sales: Total sales revenue Net sales revenue Operating expenses. Total Operating income Non-operating items. Total Problem 6-7A Prepare a multiple-step income statement and calculate the inventory turnover ratio and gross profit ratio (L06-2, 6-7) The following 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 lowlat Espresso 'n Cream Assume that a local Baskin Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021. Salaries expense Inventory (uly 1, 2021) Sales returns Utilities expense Income tax expense $13,300 2.100 1,200 3,400 5,600 Sales revenue Interest Income Cost of goods sold Rent expense Interest expense Thventory (July 31, 2021) $67,800 2.000 28,500 6,300 500 1.200 ces Problem 6-7A Part 2 2-a. Calculate the inventory turnover ratio for the month of July Inventory Turnover Ratio 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 following 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 Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense $13,300 2, 20e 1.200 3,400 5,600 Sales revenue Interest income cost of Boods sold Rent expense Interesteense Inventory July 31 20219 $67,800 2,900 28.500 6,300 500 1200 Problem 6-7A Part 3 3. Calculate the gross profit ratio for the month of July GrOS Prollt Ratio