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5. Laurie Llamos manages a Mexican restaurant in a rural Texas town. She wants to develop a comparative (horizontal) income statement so that she
5. Laurie Llamos manages a Mexican restaurant in a rural Texas town. She wants to develop a comparative (horizontal) income statement so that she can compare the differences in her revenues, expenses, and profits from this year to last year. Complete the following comparative income statement. Laurie's Comparative Income Statement SALES Food Beverage Total Sales Difference Last Year ($) This Year ($) $ % 3,025,618 3,499,239 622,649 772,528 COST OF SALES Food 997,622 1,151,165 Beverages 132,370 144,849 Total cost of sales LABOR Management 269,262 299,913 Staff 628,277 771,206 Employee Benefits 138,828 167,720 Total Labor
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