Brian and Nancy Soon live in Savannah, Georgia. Two years ago, they visited Thailand. Nancy, a professional chef, was impressed with the cooking methods and the spices used in Thai food. Savannah does not have a Thai restaurant, and the Soons are contemplating opening one. Nancy would supervise the cooking, and Brian would be the matre d'. The restaurant will serve food from Tuesday through Saturday. Brian noticed a restaurant for lease. The restaurant has seven tables, each of which can seat four guests. Tables can be moved together for a large party. Nancy is planning two seatings per evening and the restaurant will be open fifty weeks per year. The Soons have drawn up the estimates below: Average Revenues, including beverages and dessert Average Cost of the Food Chef's and dishwasher's salaries Rent(premises, equipment) Cleaning (linen and premises) Replacement of dishes, cutlery, glasses Utilities, Advertising, Telephone Required: $40 per meal $12 per meal $50,400 per year $4.000 per month $800 per month $300 per month $1,900 per month 1. Compute annual break even point in meals (units) and (sales) dollars 2. Compute the number of meals and amount of sales revenue that will be required to earn a net income of $75,600. 3. How many meals must the Soons serve to earn the $75,600 4. Should Brian and Nancy open the restaurant? Write a memo to Brian and Nancy describing how you arrived at your calculations and your recommendations for them. Remember they do not have any accounting background and you will need to explain to them not only your calculations but the financial implications of your recommendation. Answers to the above questions must be integrated into the memo, which must be written in complete sentences