Income Statement Lakeside Country Club Month Ending November 2018 Cost Sales $41.400 Cost of Sales Gross Profit $32,500 Expenses Mortgage Payment $4,000 Accounts payable $5.600 Wages Payable $10,000 Total Expenses Income Before Income Taxes Income Taxes 25% S Income After Taxes $ 21.000 S5,000 Capital Stock Retained Earnings, Begin Dividends Paid Income Total of Retained Earnings S 600 1. What is the food cost percentage, relative to sales? Place next to cost of sales in the cost % column 2. What is the wage payable percentage? 3. What does that mean in general terms