5. value: 10.00 points DeLuxe Limo Service has the following information for March: Sales revenue Variable costs of operations, excluding labor costs Employee wages and salaries Manager salaries Fixed cost of automobiles Building costs (rent, utilities, etc.) $345,000 103,500 109,500 48,500 34,500 22,000 a 2 percent of this cost was wasted due to poor directions given to limo drivers. 15 percent of this cost was for time spent by limo drivers because of poor directions. C 15 percent of this cost was time taken to address customer complaints. d The limos have 35 percent unused capacity. e The building has 15 percent unused capacity. Required: a. Using the traditional income statement format, prepare a value income statement. (Loss amounts should be indicated with a minus sign.) Total DELUXE LIMO SERVICE Value Income Statement For the Month Ending March 31 Nonvalue-added Value-added Activities Activities Sales revenue Cost of services sold: Variable costs of operations, excluding labor costs Employee wages and salaries Fixed cost of automobiles Gross margin (loss) Administrative expenses: Manager salaries Building costs Operating income (loss)