Difference Forecast ($) Actual ($) $ % REVENUE Rooms Food and Beverage Other Operated Departments Rentals and Other Income Total Revenue 784.000 951,000 280,000 210,000 33,600 34,500 22,400 21,750 1,120,000 1,217,250 DEPARTMENTAL EXPENSES Rooms Food and Beverage Other Operated Departments Total Departmental Expenses 235,200 210,000 20,250 465,450 266,250 174,200 19,850 460,300 TOTAL DEPARTMENTAL INCOME 654,550 756,950 UNDISTRIBUTED OPERATING EXPENSES Administrative and General Sales and Marketing Property Operation and Maintenance Utilities Total Undistributed Expenses 100,800 78,400 56,000 44,800 280,000 102,450 77,850 61,250 45,700 287,250 GROSS OPERATING PROFIT 374,550 469,700 MANAGEMENT FEES 56,000 60,850 INCOME BEFORE FIXED CHARGES 318,550 408,850 FIXED CHARGES Rent Property and Other Taxes Insurance Total Fixed Charges 12,000 24,000 20,000 56,000 12,000 24,000 20,000 56,000 NET OPERATING INCOME 262,550 352,850 LESS: REPLACEMENT RESERVES 120,000 120,000 ADJUSTED NET OPERATING INCOME 142,550 232,850