EX4-3: JW Hotel (JWH) has three operating departments including room department, gift shop and restaurant. Following are data of revenues, expenses and profits for the year ended 31 December, 2016 (in US dollars):

1. Data from department P/L statements:

	Year 2017	Budget 2017	Year 2016
Room revenue	2,380,500	2,358,400	2,240,000
Gift shop revenue	207,000	228,800	128,000
Restaurant revenue	862,500	932,800	832,000
Total hotel department revenues	3,450,000	3,520,000	3,200,000
Room department expenses	833,175	778,272	739,200
Gift shop department expenses	155,250	171,600	96,000
Restaurant department expenses	603,750	680,944	565,760
Total hotel department expenses	1,592,175	1,630,816	1,400,960

2. Data related to expense centers and fixed expenses are as follows:

	Year 2017	Budget 2017	Year 2016
Interest expense	100,000	100,000	100,000
Wage and benefit expense	241,500	246,400	224,000
Heat, light, and power	138,000	140,800	128,000
Property insurance	50,000	50,000	50,000
Repairs and maintenance	172,500	176,000	160,000
Accident expense	34,500	35,200	32,000
Lease expense	50,000	50,000	50,000
Training expense	51,750	52,800	48,000
Advertising	207,000	211,200	192,000
Licenses and permits	10,000	10,000	10,000
Management fee	69,000	70,400	64,000
Depreciation	100,000	100,000	100,000

3. Income tax rate: 30%

Required:

1. Prepare Consolidated P&L Statement for year 2016 (including three columns: this year, budget and last year)

2. Compute dollars change and percentage change for the following items. Discuss the current year performance.

	Actual	Budget	Last Year	Dollars change		Percentage change
				Actual to Budget	Actual to Last Year	Actual to Budget	Actual to Last Year
Total hotel revenue
Total hotel department expenses
Total hotel department prot