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Can someone please provide formulas to the numbers above? Please and thank you(: Elizabeth Harry is the owner of Harry's Grill&Bars. Elizabeth is preparing 2021

image text in transcribedCan someone please provide formulas to the numbers above? Please and thank you(:

Elizabeth Harry is the owner of Harry's Grill&Bars. Elizabeth is preparing 2021 operations budget. Based upon her sales historles, sales projections, and cost records, Elizabeth predicted following changes in the operations for 2021 over 2020: Harry's Grill&Bars Budget Worksheet for December 31, 2020 2020 Actual 2021 Budget % 2.56% 5.06% - SALES Food Beverage Total Sales 328,240 109,413 437,653 1 Increase in food sales revenue 2 Increase in beverage sales revenue 3 Food and beverage cost percentages will remain the same in 2021. (You need to calculate these percentages for 2020 so you can use for 2021). 4 Salaries and wages cost will increase 5 Benefits will increase 6 An increase in all other operating expenses (except depreciation) 7 No change in annual depreciation 8 Interest payments for loans will total 9 Tax payments are estimated to be $336,642.94 102.56% $114,949.30 105% $451,592.24 100% 5.56% 9.56% 1.06% COST OF SALES Food Beverage Total Cost of Sales $1.172 per month 21% of income before income taxes 114,884 22,977 137,861 $117,825.03 $24,139.64 $141,964.67 35% 21.00% 31.50% GROSS PROFIT 299,793 $309,627.57 68.50% Required: Prepare Harry's Grill&Bars' operations budget for 2021 in the budget worksheet using the information provided above. No hardcoded numbers are allowed. You need to enter formulas to make the calculations in the 2021 Budget column. OPERATING EXPENSES: Salaries and Wages Employee Benefits Direct Operating Expenses Music and Entertainment Marketing Utility Services Repairs and Maintenance Administrative and General Depreciation Total Operating Expenses Operating Income Interest Income Before Income Taxes Income Taxes Net Income 69,149 11,817 15,756 3,064 6,127 11,379 3,501 12,254 8,400 141,447 158,346 14,067 144,278 30,298 113,980 $72,993.68 105.56% $12,946.71 $ 109.56% $15,923.01 101.06% $3,096,48 101.06% 6,191..95 101.06% $11,499.62 101.06% $3,538.11 101.06% $12,383.89 101.06% $8,400.00 $146,973.45 47.18% $162,654.13 28.70% $14,064.00 $1,172 per month for 12 months $148,590,13 $31,203.93 21% $117,386.20 97.10%

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