For this question do both vertical and horizontal analysis on the income statement for all relevant years
2019 256 $ 300 2015 230 $ 85% 195.50 $ 2016 234 $ 86% 201.24 $ 2017 240 $ 87% 208.80 $ 2018 247 $ 88% 217.36 $ 8896 225.28 $ 3 Number of rooms 4 5 ADR 6 OCC 7 RevPAR 8 9 REVENUE 10 Rooms 11 Food & Beverage 12 Other Operated Departments 13 Miscellaneous Income TOTAL REVENUE 15 16 DEPARTMENTAL EXPENSES 17 Rooms 18 Food & Beverage 19 Other Operated Departments 20 TOTAL DEPARTMENTAL EXPENSES 21 22 TOTAL DEPARTMENTAL PROFITS 23 4. UNDISTRIBUTED OPERATING EXPENSES $ 21,407,250 $ 22,035,780 $ 22,863,600 $ 23,800,920 $ 24,668, 160 $ 2,598,100 $ 2,812,783 $ 2,924,641 $ 3,116,191 $ 3,152,037 $ 333,673 $ 378,245 $ 351,244 $ 320,721 $ 353,944 $ $ 81,376 S 101,028 $ 111,131 $ 90,816 $ 24,339,023 $ 25,308,184 $ 26,240,513 $ 27,348,963 $ 28,264,957 $ 2,649,024 $2,918,832 $ 3,114,476 $ 2,966,355 $ 3,051,108 $ 779,430 $ 900,090 $ 965,131 $ 934,857 $ 945,611 $ 135,053 $ 135,039 $ 188,243 $ 151,601 $ 143, 110 $ 3,563,506.5 $3,953,961.7 $4,267,849.7 $4,052,813.0 $4,139,828.8 $ 20,775,517 $ 21,354,222 $ 21,972,663 $ 23,296,150 $ 24,125,129 $ 712,667 $ 763,952 S 788,277 $ 793,210 $ 786,030 $ 610,327 $ 622,703 S 664,596 $ 738,631 $ 736,311 $ 330,306 $ 344,937 $ 371,599 $ 377,833 $356,926 $ 351,476 $ 373,369 $ 383,536 $ 387,269 $ 382,653 $ 2,004,777 $ 2,104,960 $ 2,208,007 $ 2,296,943 $ 2,261,919 $ 18,770,740 $ 19,249,262 $ 19,764,656 $20,999,207 $ 21,863,209 $ 1,070,363 $ 1,101,789 $ 1,143,180 $ 1,190,046 $ 1,233,408 $ 1,313,952 $ 1,347,448 $ 1,383,526 $ 1,469,944 $ 1,530,425 24 UNDISTRIBUTED OPERATING EXPENSES 25 Administrative & General 26 Marketing 27 Utility Costs 28 Property Operation & Maintenance 29 TOTAL UNDISTRIBUTED OPERATING EXPENSES 30 31 GROSS OPERATING PROFIT 32 33 Franchise Fees (Royalty) (5% of Rooms Revenue) 34 Management Fees (7% of GOP) 35 36 INCOME BEFORE FIXED CHARGES 37 38 SELECTED FIXED CHARGES 39 Property Taxes 40 Insurance 41 Reserve For Capital Replacement 42 43 EBITDA 44 Depreciation 45 Interest Expense 46 Income Before Income Tax 47 Income Tax @ 20% 48 Net Income $ 16,386,425 $ 16,800,025 $17,237,950 $ 18,339,216 $ 19,099,377 S $ $ 328,545 $ 59,700 $ 150,467 S 328,545 $ 59,700 $ 169,400 $ 328,545 S 59,700 $ 171,091 $ 328,545$ 59,700 S 150,467 $ 328,545 59,700 169,400 $ 15,847,714 $16,242,379 $16,678,614 $17,800,505 $18,541,732 S 280,000 $ 280,000 $ 280,000 $ 280,000 $ 280,000 S 120,000 $ 120,000 $ 120,000 $ 120,000 $ 120,000 $ 15,447,714 $15,842,379 $ 16,278,614 $17,400,505 $18, 141,732 $ 3,089,543 $ 3,168,476 $ 3,255,723 S 3,480,101 $ 3,628,346 $ 12,358,171 $12,673,904 $13,022,891 $13.920,404 $14,513,385 H Vertical Financial Statement Analysis Hortional Financial Statement Analysis 2016-2017 2017 2018 2018 2019 Dollar Change N Change Dollar Change Change Dollar Change Change 2015-2016 Dollar Change Change 2016 2017 2018 2015 2019
