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Required Information (The following information applies to the questions displayed below) Toys"R"Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. $1,000 Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar 1, 2021) Cost of goods sold $77,300 6,4ee 4,3 2.ee 2,882 Inventory (Mar 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense 4,20 35, Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2021, TOYS"R"US Multiple step Income Statement For the month of March, 2021 Net sales: Total sales revenue Net sales revenue Operating expenses Required Information The following information applies to the questions displayed below.) Toys R Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021 5273 6,400 32.ee Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2821) cost of goods sold Inventory (Mar 31, 2021) Insurance expense Sales discounts Salates expense Income tax expense 2.00 35, 4,200 2-0. Calculate the inventory turnover ratio for the month of March Inventory Turnover Ratio . 2-b. Would you expect this ratio to be higher or lower in December 2021?

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