Begin by preparing the income statement for the company as a whole, then prepared the income statements for each restaurant. More info In 203, each had sales of $1,100,000. The Naples restaurant is still pricing lower than the Fort Lauderdale restaurant to establish a customer base. Variable expenses run 60% of sales for the Fort Lauderdale restaurant and 70% of sales for the Naples restaurant. Each manager is responsible for the rent and some other fixed costs for his or her restaurant. These costs amounted to $130,000 for the Fort Lauderdale restaurant and $45,000 for the one in Naples. The difference is primarily due to lower rent in Naples. In addition, several costs, such as advertising, legal services, accounting, and personnel services, were centralized. The managers had no control of these expenses, but some of them directly benefited the individual restaurants. Of the $400,000 cost in this category, $130,000 related to Fort Lauderdale and $195,000 to Naples, where most of the additional cost in Naples is due to the cost of extra advertising to build up its customer base. The remaining $75,000 was general corporate overhead. Requirements 1. Prepare income statements for each restaurant and for the company as a whole. Use a format that allows easy assessment of each manager's performance and each restaurant's economic performance. 2. Using only the information given in this exercise do the following: a. Evaluate each restaurant as an economic investment. b. Evaluate each manager