9. Daudi owns and manages a restaurant featuring Middle Eastern cuisine. His operating results for this year are listed below. For next year, Daudi expects that his revenue will increase 5 percent. He also expects that the percentage of revenue he spends on food will remain unchanged, but that employee raises and rising health care costs will mean he will spend 10 percent more for the cost of labor next year than he spent this year. Because of new cost control measures he plans to implement, Daudi expects the total amount that he will spend for other expenses next year will be unchanged from this year. Help Daudi prepare a budget for next year that will show the amount of revenue, expenses, and profit his operation will likely experience. Show each amount in dollars and as a percentage of revenue. Should Daudi's profits next year be greater or lesser than this year? By how much? Next Year Budget Next Year Percent This Year Actual Percent Revenue $1,500,000 100% 35% 30% Cost of Food Cost of Labor Other Expenses Total Expenses Profit 20% 85% $ 225,000 15%