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Need help creating a income statement with the following information provided. Information from the Income Statement for December 2017 Past year revenues were $2,200,000 with
Need help creating a income statement with the following information provided.
Information from the Income Statement for December 2017 Past year revenues were $2,200,000 with food accounting for 80% of sales. Cost of sales were 32.62% of total sales with a food cost of 37.1% and a beverage cost of 14.7% Expenses as a percentage of total sales were provided by Mr. Medom Annual Rent is $154,000 Salaries & Wages Depreciation Interest Marketing General & Administrative 30.0% 2.0% 0.5% 2.1% 3.0% Employee Benefits Direct Operating Expenses Music & Entertainment Utilities Repairs & Maintenance 3.9% 5.7% 0.1% 2.5% 2.0% Some apps currently in use are preventing automatic updates. SALES Food Beverage Total Sales COST OF SALES Food Beverage Total Cost of Sales GROSS PROFIT Food Beverage Total Gross Profit OPERATING EXPENSES Salaries & Wages Employee Benefits Direct Operating Expenses Music & Entertainment Marketing Utility Services General & Administrative Repairs & Maintenance Total Operating Expenses SOME apps CUPHILIY use are preventing automatic updates, Later GROSS PROFIT Food Beverage Total Gross Profit OPERATING EXPENSES Salaries & Wages Employee Benefits Direct Operating Expenses Music & Entertainment Marketing Utility Services General & Administrative Repairs & Maintenance Total Operating Expenses NON-CONTROLLABLE EXPENSES Rent Depreciation Interest Total Non-Controllable Expenses Income Before TaxesStep by Step Solution
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