Account 01 maldor Insurance (fire) Rooms department-salaries and wages Food department-salaries and wages Gift shop-salaries and wages Supplies-food department Food purchases Room sales Interest income Interest expense Cost of food sold Food sales A&G-wages Advertising Heat Power and lights Supplies and other-rooms department Property taxes A&G-other expenses Gift shop sales Gift shop-cost of sales Gift shop-other expenses Management fee Marketing-wages The Income Statement 137 Maintenance-contract Information & telecommunications systems-contract Depreciation (0) $20,000 100,000 80,000 5,000 30,000 80,000 600,000 alqqua Rooms Food A&G Eredning Account Balance ? 50,000 ? $ 600 1,000 300 300,000 40,000 8,000 25,000 15,000 60,000 15,000 12,000 40,000 12,000 20,000 16,000 10,000 3,000 ? Rent Other information: 1. The BBM invested $100,000 on April 1, 20X1, in a certificate of deposit earning an annual rate of 8 percent. Abnur 20,000 5,000 2. The beginning and ending inventories of food were $4,000 and $6,000 respectively. Food consumed by the department employees during the year (free of charge) was as follows: 3. Benefits and payroll taxes for all employees, excluding free food, are 25 percent of salaries and wages. gross 4. The BBM pays an average of 30 percent of its pretax income to the various governmen- tal units in the form of income taxes. 5. The management fee to be paid to the management company is 5 percent of total sales and 8 percent of total income before management fees and fixed charges. Atg non Required: Prepare a summary income statement for 20X1 for the Black Beach Motel based on the format of Exhibit 4.

Other information: 1. The BBM invested $100,000 on April 1, 20X1, in a certificate of deposit earning an annual rate of 8 percent. 2. The beginning and ending inventories of food were $4,000 and $6,000 respectively. Food consumed by the department employees during the year (free of charge) was as follows: 3. Benefits and payroll taxes for all employees, excluding rree food, are 25 percent of gross salaries and wages. 4. The BBM pays an average of 30 percent of its pretax income to the various governmental units in the form of income taxes. 5. The management fee to be paid to the management company is 5 percent of total sales and 8 percent of total income before management fees and fixed charges. Required: Prepare a summary income statement for 201 for the Black Beach Motel based on the format of Exhibit 4