Question
How do I complete this income statement? The following information pertains to a Hotel for the year 2016: Net rooms revenue: $1,050,000 Food and beverage
How do I complete this income statement?
The following information pertains to a Hotel for the year 2016:
Net rooms revenue: $1,050,000
Food and beverage revenue: $650,000
Telephone: revenue: $45,000; cost of sales: $15,000; payroll: $18,000
F&B Info: Beg. Inv = $75,000; End. Inventory = $55,000; Purchases =$190,000
There were no employee meals or complimentary meals given.
F&B Payroll: $200,000; F&B Other Expense: $125,000
Maintenance payroll: $75,000; other expense: $90,000
Rooms payroll: $150,000; other rooms expense: $120,000
A&G Payroll: $105,000; other expense: $50,000
Rent and Interest: $35,000 Depreciation: $75,000
Marketing Payroll: $85,000; other expense: $65,000
Energy Expense: $105,000
The income tax rate is 30%.
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