4. Prepare a simple income statement. This is nice two column format. The 3C Catering Company only has about four (4) revenue and expense accounts so you can greatly shorten the income statement. Only use the account that you need. Helpful hint: Depreciation Expense belongs on the Income Statement while Accumulated Depreciation goes with Fixed Assets on the Balance Sheet. Hotel Theoretical Departmental Income Statement- Food Department For the Year Ending December 31, 0006 Sales Revenue Dining room $201.600 Coffee shop 195.900 Banquets 261,200 Room service 81,700 Bar 111,200 Total Sales Revenge $85 1.600 Cost of sales Cost of Sales, Food $319,500 Less, employee meals 30.100) Net cost of sales food $289,400 Net cost of sales beverages 33,000 Total Net Cost of Sales 322,400) Gross Margin (profin $529,200 Departmental Operating Expenses Salaries and wages $277.400 Employee benefits 34,500 Total payroll and related expenses $311.900 China, glassware 7,100 Cleaning supplies 6400 Decorations 2.200 Guest supplies 6,500 Laundry 15.500 Licenses 3,400 3,700 Menius 2,000 Miscellaneous 800 Paper supplies 4900 4.700 Silver 2300 Uniform 3.100 Utensils 1,700 Total Operating Expenses (376,200) Departmental Contributory Income 5151000 79 99 237. E EXHIBIT 2.1 Sample Departmental Income Statement 4. Prepare a simple income statement. This is nice two column format. The 3C Catering Company only has about four (4) revenue and expense accounts so you can greatly shorten the income statement. Only use the account that you need. Helpful hint: Depreciation Expense belongs on the Income Statement while Accumulated Depreciation goes with Fixed Assets on the Balance Sheet. Hotel Theoretical Departmental Income Statement- Food Department For the Year Ending December 31, 0006 Sales Revenue Dining room $201.600 Coffee shop 195.900 Banquets 261,200 Room service 81,700 Bar 111,200 Total Sales Revenge $85 1.600 Cost of sales Cost of Sales, Food $319,500 Less, employee meals 30.100) Net cost of sales food $289,400 Net cost of sales beverages 33,000 Total Net Cost of Sales 322,400) Gross Margin (profin $529,200 Departmental Operating Expenses Salaries and wages $277.400 Employee benefits 34,500 Total payroll and related expenses $311.900 China, glassware 7,100 Cleaning supplies 6400 Decorations 2.200 Guest supplies 6,500 Laundry 15.500 Licenses 3,400 3,700 Menius 2,000 Miscellaneous 800 Paper supplies 4900 4.700 Silver 2300 Uniform 3.100 Utensils 1,700 Total Operating Expenses (376,200) Departmental Contributory Income 5151000 79 99 237. E EXHIBIT 2.1 Sample Departmental Income Statement