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1. Complete the income statement by inserting the following accounts in the appropriate boxes. Calculate the required sub-totals and profits. 2. Use the information above

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1. Complete the income statement by inserting the following accounts in the appropriate boxes. Calculate the required sub-totals and profits. 2. Use the information above to calculate the following accounts and ratios. a) Food cost percent and Labor cost percent b) Prime cost percent and Overhead cost percent (Overhead costs include all operating expenses except food, beverage, and labor) c) Gross profit and Gross margin d) Operating margin and Profit margin e) Contribution margin and Contribution rate (Assume Food, beverage, and labor are the only variable costs.) 4. On a Friday night, the sales revenue is $3474.95 and a total of 160 customers served. a) What is the average check? b) Eight servers work that night. What is the average sales revenue per server? c) The restaurant has 140 seats. What is the seat turnover for that night

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