Lozier Catering and Events (LCE) offers a variety of services from small gatherings to large weddings and corporate retreats. Sales for year 1 totaled $987,500. Information regarding resources for the year includes the following: Required: Management has requested that you do the following: a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Lozier Catering and Events (LCE) offers a variety of services from small gatherings to large weddings and corporate retreats. Sales for year 1 totaled $987,500. Information regarding resources for the year includes the following: Required: Management has requested that you do the following: a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below. Prepare a traditional income statement