Developing an Income Statement

Information for the Income Statement for Year End December $2018$

Past Year Total revenue was $$3,500,000$

Food Sales were $78\%$ of Total Revenue

Beverage Sales were $22\%$ of Total Revenue

Food Cost was $34\mathrm{.}8\%$

Beverage Cost was $16\mathrm{.}4\%$

Annual Rent was $$350,000$

Expenses as a percentage of Total Sales are listed below:

$\backslash$table$[[$Salaries & Wages,$29\%,$Employee Benefits,$5\mathrm{.}5\%$