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 $12,689 Sales revenue 1,750 Interest income 1,000 Cost of goods sold 3,050 Rent expense 4,980 Interest expense Inventory (July 31, 2021) $64,300 2,200 28,150 5,600 300 1,000 Required: 1. Prepare a multiple-step income statement for the month ended July 31, 2021 Required infoumation Required: 1. Prepare a multiple step income statement for the month ended July 31, 2021 Net sales: Total sales revenue Net sales revenue Operating expenses
Required information Total Operating income Non-operating items: Total
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. $12,680 Sales revenue Salaries expense Inventory (July 1, 2021) Sales returns Utilities expense Income tax expense 1,750 Interest income 1,809 Cost of goods sold 3,850 Rent expense 4,900 Interest expense Inventory (July 31, 2021) $64,380 2,200 28,150 5,600 300 1.000 2-a. Calculate the inventory turnover ratio for the month of July. Inventory Turnover Ratio
Required information [The following information applies to the questions displayed below) Baskin Robbins is one of the world's largest specially 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 $12,689 Sales revenue 1,750 Interest income 1,000 Cost of goods sold 3,050 Rent expense 4,900 Interest expense Inventory (July 31, 2021) $64,300 2,200 28,150 5,600 300 1,000 3. Calculate the gross profit ratio for the month of July Gross Profit Ratio