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1. Using the data provided for the year of ending December 31, 2020, create an income statement for Rex Hotels, Inc. using the examples and

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1. Using the data provided for the year of ending December 31, 2020, create an income statement for Rex Hotels, Inc. using the examples and information from the textbook. Chapters 4 and 7 will come in handy as well as page 89. 2. Second, conduct a common-size analysis, also known as a vertical analysis, for your income statement, providing percentages for each line item. This will be discussed in class. (pages 226-227 can be used for reference) $1,569,847.00 $ 965,300.00 $ 165,430.00 $ 30,725.00 $ 190,770.00 $ 284,763.00 $ 40,705.00 $ 14,587.00 Revenues Rooms Food Beverage Merchandise Cost of Sales Rooms Food Beverage Merchandise Expenses Admin and General Advertising Salaries Wages Benefits Guest Supplies Cleaning Supplies Cable Gas/Electric Cash Accounts Payable Phone Water Trash Maintenance Repairs Linens and Uniforms Property Insurance Property Taxes Rent Interest Depreciation Income Taxes $ 2,500.00 $ 23,950.00 $ 375,250.00 $ 248,600.00 $ 96,250,00 $ 2,400.00 $ 22,000.00 $ 6,000.00 $ 16,200.00 $ 10,000.00 $ 15,000.00 $ 1,200.00 $ 6,000.00 $ 3,000.00 $ 18,750.00 $ 3,500.00 $ 5,100.00 $ 10,000.00 $ 17,000.00 $ 84,000.00 $ 29,985.00 $ 52,000.00 3.5%

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