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Day Street Deli's owner is disturbed by the poor profit performance of his ice cream counter. He has prepare following profit analysis for the year
Day Street Deli's owner is disturbed by the poor profit performance of his ice cream counter. He has prepare following profit analysis for the year just ended. $45,000 20,000 $25,000 Sales Less: Cost of food Gross profit Less: Operating expenses: Wages of counter personnel Paper products (e.g., napkins) Utilities (allocated) Depreciation of counter equipment and furnishings Depreciation of building (allocated) $ 12,000 4,000 2,900 2,500 4,000 3,000 Deli manager's salary (allocated) Total Loss on ice cream counter 28,400 $ (3,400) Required: Correct the owner's profit analysis for the year just ended. Less: Operating expenses Total
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