figures to the nearest $1. Problem 25 The Kaminski Motel (KM) has two major operated departments: rooms and food. The following information is supplied to you as of December 31,202 : 1. The KM invested $30,000 on July 1,202, in Daytona Aircraft Bonds. The funds were invested at an annual interest rate of 12 percent. 2. The beginning and ending inventories of food were $5,000 and $4,000, respectively. Food consumed by the food and rooms department employees during the year (free of charge) totaled $500 and $300, respectively. 3. Fringe benefits and payroll taxes for all employees, inclusive of employee meals, are 20 percent of gross salaries and wages. 4. The KM pays an average of 30 percent of its pretax income to the various governmental units in the form of income taxes. 5. The management fee to be paid to the management company is 2 percent of net rooms sales and 6 percent of GOP. 6. Fire insurance protection was secured on June 1, 20X1, for a two-year period of coverage from July 1,201, through June 30,203. The two-year premium was $36,000. 7. Franchise fees (a marketing expense) is paid to Best Eastern Corporation at a rate of 3 percent of net rooms sales and 2 percent of net food sales. Required: Prepare the modified income statement for 202. Use Exhibit 4 as a guide. Round to the nearest $1