DeLuxe Limo Service has the following information for March:

Sales revenue	$	275,000
Variable costs of operations, excluding labor costsa		82,500
Employee wages and salariesb		102,500
Manager salariesc		27,500
Fixed cost of automobilesd		27,500
Building costs (rent, utilities, etc.)e		15,000

^a 2 percent of this cost was wasted due to poor directions given to limo drivers.

^b 15 percent of this cost was for time spent by limo drivers because of poor directions.

^c 15 percent of this cost was time taken to address customer complaints.

^d The limos have 35 percent unused capacity.

^e The building has 15 percent unused capacity.

Required:

a. Using the traditional income statement format, prepare a value income statement. (Loss amounts should be indicated with a minus sign.)