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 lowot 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 $13,700 Sales revenue 2.300 Interest income 1,100 Cost of goods sold 3,600 Rent expense 6.000 Interest expense Inventory (July 31, 2022) $69,820 3,300 28,700 6,700 400 1.100 Problem 6-7A Part 1 Required: 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 soos Total sales reven $ 58,700 5 Net Sales anders Use 65.700 137.000 3.600 * go *** : 8 DO @ ) N # 3 % 5 4 8 & 7 6 8 C 9 0 Q W E R R Y U I OP A A S D F G H J L N X V