Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hello, I need help with my accounting class homework. I missed a lot of classes, due to a surgery I had done. 1 Your friend
Hello, I need help with my accounting class homework. I missed a lot of classes, due to a surgery I had done.
1 Your friend is planning to open their own daycare center. They asked you to help them review their financial numbers. Friend has provide you with the following monthly information The day care will be open Monday through Friday $100 Per child $75 Per child $25 Per child Lunch and snacks Educational supplies Other supplies $ 2,000 Monthly $ 300 Monthly $ 300 Monthly $ 2,500 Monthly $ 500 Monthly Rent Utilities Insurance Salaries Misc Monthly fee per child $600 Required Prepare a break even analysis -- show your work Prepare an income statement, similar to the one we did in the class to prove your break even calculation Assume that friend has an annual target income after taxes of $48,000. Prepare a worksheet to determine the number of children that would be required to attend each month to attain their target income. The tax rate is 30% Prepare an income statement, similar to the one we did in the class to prove your target volume calculationStep 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