I have a small accounting assignment, please let me know if you can do it. Both files are in the attachment.

Profit and Loss Statement on Claire's Restaurant & Novelties Sales $1,002,371 Cost of Goods Sold: opening inventory purchases goods available for sale less ending inventory cost of goods sold 502,588 754,920 1,257,508 551,300 706,208 gross profit 296,163 Operating expenses salaries advertising wrapping supplies supplies taxes, insurance, repairs depreciation heat, light, & power taxes insurance depreciation store equipment interest miscellaneous income taxes total expenses net income 94,800 17,200 5,564 12,201 26,163 5,158 3,420 8,633 6,670 1,788 15,336 15,754 212,687 $83,476 Report on Operations for Claire's Restaurant and Novelties Sales $1,002,371 Cost of Goods Sold: opening inventory purchases goods available for sale less ending inventory cost of goods sold 502,588 754,920 1,257,508 551,300 706,208 gross profit 296,163 Operating expenses owner's salary salaries advertising wrapping supplies supplies rent heat, light, & power taxes insurance depreciation store equipment interest interest on owner's capital miscellaneous income taxes total expenses net income/(loss) 103,000 94,800 17,200 5,564 12,201 39,000 5,158 3,420 8,633 6,670 1,788 44,600 15,336 11,254 368,624 ($72,461) How Is He Doing? Ted Mohr had worked as a mid-level manager for a large retail chain with a regional headquarters in Fairfield County, Connecticut. For over fifteen years he had commuted on I95, and worried that too much of his family time was spent in traffic jams. Two years ago he acted on one of his dreams and relocated to New Hampshire to open a restaurant and novelty shop. The shop had been in its current location for over twelve years and had achieved a reputation for service and a wide range of tourist novelties. Ted ran the operations of the store, and his wife handled all the office and administrative functions. In the past year he had withdrawn $35,000 from the business for living expenses. During next year's slow season he hoped that he and his wife would be able to take at least four weeks as a vacation. At a business luncheon a professor from the local university spoke about the university's offer to help small businesses in the state with free consulting from its faculty. Ted thought he would give it a try, especially since the advice was free. He submitted last year's income statement (shown in Exhibit A) and answered some questions in a phone interview. He waited one month for a reply. If he was impressed with the level of advice, he would seek further consultation. He was dismayed upon reading the professor's comments (shown in Exhibit B) to his financial position at the end of last year. He thought it only fair to give the professor a chance to explain his analysis, so he drafted a short letter to him. The main elements of the letter were as follows: \"Thank you for your analysis of my restaurantovelty business. However there are several questions on the schedules you attached. First, you show I had a merchandising loss of $72,500- I thought I was doing ok, not setting the world on fire, but ok. You show as an expense the $103,000 salary I made two years ago in the corporate world. I gave that up to be in my own business; I am working now for a profit and not a salary. You also show rent on the building of $39,000 which would be the current rental to a new lessee. But I bought the building to run the business there, and I pay tax, insurance, and property taxes. Lastly, you show interest of $44,600 on my invested capital (4.5% on invested capital of $990,000). My family invested that capital so we would avoid excessive borrowing. Please give me a call so I can reconcile these items.\" Required: 1) did Mr. Mohr make a profit? If so, how much? Can you explain the difference between the two income numbers presented? 2) Is Mr. Mohr a good business executive