Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could someone please show me and explain how to get these numbers? Thanks! 3. Laurie Llamos manages a Mexican restaurant in a rural Texas town.

Could someone please show me and explain how to get these numbers? Thanks!

image text in transcribed

image text in transcribed

3. Laurie Llamos manages a Mexican restaurant in a rural Texas town. She wants to develop a comparative (horizontal) income statement so that she can compare the differences in her revenues, expenses, and profit from this year to last year. Complete the following comparative income statement. Laurie's Comparative Income Statement Difference Last Year This Year 96 SALES: Food Beverage 3,025,618 3,499,239 772,528 622,649 Total Sales COST OF SALES: Food Beverage 997,622 1,151,165 132,370 144,849 Total Cost of Sales GROSS PROFIT: Food Beverage Total Gross Profit OPERATING EXPENSES: Salaries and Wages Employee Bonefits Direct Operating Expenses Music and Entertainment Marketing Ueility Services Repairs and Maintenance 897,539 1,071,119 167.720 198,215 11,436 95,295 133,413 53,366 138,828 171,114 3,228 61,342 103,314 48,429

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Home Energy Audit Your Guide To Understanding And Reducing Your Home Energy Costs

Authors: Richard Montgomery

1st Edition

0471864668, 978-0471864660

More Books

Students also viewed these Accounting questions