Amount % $808,000 $175,000 100% Sales: Food Beverage Total Sales Cost of Sales: Food Beverage Total Cost of sales Labor: Salaries & wages Employee Benefits Total Labor $210,000 $50,000 $260,000 1.) Complete the Income Statement and fill out the highlighted boxes. 2.) Calculate the overhead cost Percentage 3.) Calculate the gross profit 4.) Calculate the gross margin percentage 5.) Calculate the operating margin percentage 6.) Calculate the profit margin percentage 7.) Calculate the contribution margin 8.) Calculate the contribution rate percentage $259,000 $56,100 Prime Cost Other Controllable Expenses: Direct Operating Expenses Music & Entertainment Marketing Utilities General & Administrative Expenses Repairs & Maintenance Total Other Controllable Expenses $55,000 $2,500 $25,000 $35,000 $45,000 $15,600 $178,100 Controllable Income Non-Controllable Expenses: Occupancy Costs Equipment Leases Depreciation & Amortization Total Non-Controllable Expense 70,000 5,000 15,000 90,000 Restaurant Operating Income Corporate Overhead Interest Expense Other (Income)/Expense Income before Income Taxes 2,500 955 1,500 Taxes (35%) Net Income