57% 00 Tue 6:47 PM Managerial Accounting for the Hospitality Industry, 2nd Edition Page 441 of 501 Test Your Skills 441 2. Cassidy Tate owns the Huddle House Catering Company. Her clients are routinely billed after their events have concluded and, as a result, Cassidy carries a significant amount of accounts receivable. Help Cassidy complete the accounts receivable aging report she has begun for her business by filling in the appro- priate missing data. Huddle House Catering Accounts Receivable $250,000 Total Number of Days Past Due Less Than 30 30-60 60-90 90+ $187,500 $57,500 Total $187,500 $37,500 %Of Total 3.0% 3. Zheng Chung is the managing owner of the Stillwater Grill. Last year was good year for him. Now he is preparing his budget for next year. Using the information that Zheng believes will be true, help him complete the dollar and percentage amounts in the budget worksheet that follows and then answer the questions he has about next year. Based upon his sales histories, sales projections, and cost records, Zheng predicts that next year his operation will experience Increase in food sales Increase in Change in food and beverage cost % Increase in management and staff costs Increase in employee benefits Increase in all other controllable expenses (except depreciation) Monthly depreciation Monthly interest payrnents Tax rate assessed on income before income taxes 6% 4% 0% 3.5% 10% 2% 5750 $1100 25%