Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given the data below calculate the income statement by inserting the correct formulas into the ALL GREEN boxes After you hoave completed the income
Given the data below calculate the income statement by inserting the correct formulas into the ALL GREEN boxes After you hoave completed the income statement upload the file to the question box Sales Cross Check Calculations Food $412,453 12.57% Merchandise $328,125 10.00% Catering $984,375 30.00% Delivery $557,813 17.00% Beverage $998,540 30.43% Total Sales $3,281,250 100.00% 100% Cost of Sales Food Gross Profit 33.35% Merchandise 12.00% Catering 22.00% Delivery 17.00% 24.00% Beverage Total Cost of Sales Controllable Expenses Payroll - Fixed Payroll - Variable Employee Benefits Direct Operating Expenses Music and Entertainment Advertising and Promotion Utilities Administration and General Repair and Maintenance Total Controllable Expenses Income Before Occupation Costs Occupational Costs Rent 0.00% 14.00% 16.00% 4.50% 5.50% 1.25% 2.50% 3.25% 2.50% 1.10% 0.00% 0.00% $158,000 Property Tax Other Tax Property Insurance $95,000 $72,000 $195,000 Interest $217,500 Depreciation $150,000 Total Occupational Costs 0.00% Restaurant Profit Before Income Taxes 0.00%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started