3. The financial records of the Colonial Restaurant reveal the following figures for the year ending December 31, 20XX: Depreciation $25,000 Food sales $375,000 Cost of beverages sold $30,000 Other controllable expenses $60,000 Salaries and wages $130,000 Beverage sales $125,000 Employee benefits $20,000 Cost of food sold $127,500 Occupancy costs $55,000 a) Following the form illustrated in Figure 1.1, prepare an operating budget for the business. b) Determine the following percentages: i) Food cost % ii) Labour cost % (payroll, plus payroll taxes and employee benefits) iii) Beverage cost % iv) Combined food and beverage cost % v) Percentage of profit before income taxes c) Assuming the restaurant has 75 seats, determine food sales per seat for the year