2 Sinqobile runs a restaurant in an East Coast city that specializes in African-American cuisine. She has compiled her sales and cost data from last year, and she wants to develop a budget for this year. She has projected the following increases for this year: 3 4 5 Projected Increases 6 Meals served 3% 7 Selling price per meal 2% 8 Cost of food 5% 9 Cost of labor 10% 10 Other expenses 2% 11 12 Using this information, help Sinqobile complete her budget. 13 14 Last Year Budget 15 Meals Served 122,000 125,6601 16 Selling Price per Meal $12.50 $12.75 17 Budgeted revenue for this year: 18 19 Last year's food cost per meal: 20 Last year's food cost per meal + estimated increase: 21 Budgeted total cost of food this year: LULAI LULUI U us year. Last year's labor cost per meal: Last year's labor cost per meal + estimated increase: Budgeted total cost of labor this year: Revenue Cost of Food Cost of Labor Other Expenses Total Expenses Profit Last Year $ $1,525,000.00 610,000.00 488,000.00 245,760.00 1,343,760.00 181,240.00 Last Year % of Budget This year Budgeted % sales $ of sales 100.0% $0.00 40.0% $0.00 32.0% $0.00 16.1% 88.1% 11.9% The owner of the restaurant has requested that Sinqobile make at least a 10% profit for this year. Based on her budget figures, is she likely to meet this goal? If not, what can she do to achieve a 10% profit? Type your 3 answers in the box below. 1