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please show all work Question 3 Please answer the following questions based on the income statement provided below. (1) What was the total amount of
please show all work
Question 3 Please answer the following questions based on the income statement provided below. (1) What was the total amount of direct expenses (including all operated departments) (2) What was the total amount of overhead expenses (including all expenses except for direct expenses)? (3) What was the tax rate for 20X1? (4) What were the labor cost and food cost percentages for the food & beverage department? Vacation Inn Summary Income Statement For the year ended December 31, 20X1 Ne Cost of Labor Costs and Related Expenses Other Revenue (Los) $ 0 254,953 $185.334 232,149 $ 70.000 73,329 Schedule Operated Departments From Food and Beverage Miscellaneous Income Total Operated Departments Undistributed Operating Expenses Administrative and General Information and Telecommunications $1,041,200 653,10 25.000 1,719,393 775 TL 92.062 25.000 BUBB 254,953 418,183 152,409 74,200 48.000 122.200 Sales and Marketing Property Operation and Maintenance 7 30.044 33231 31,552 20.209 33,585 49.312 50,752 50.253 G816 80.964 68.752 Total Undistributed Operating Expenses Gross Operating Profile Rant, Property Tim, and inc e EBITDA 100.127 $587,310 219,658 $372.267 388.885 5504863 $1.719,303 $254.953 200.861 304002 Depreciation and Amor Income Barncome To Income Tax Not Income 115.860 1351 48,707 827 (4) What were le du CUSL al I CSI percentage 1 Vacation Inn Summary Income Statement For the year ended December 31, 20X1 Net Revenue Cost of Sales Labor Costs and Related Expenses Other Expenses $ 0 254,953 $1,041,200 653,193 25,000 1,719,393 $ 185,334 232,849 0 418,183 $ 79,080 73,329 0 152,409 Profit (Loss) $776,786 92,062 25,000 893,848 254,953 74.200 48,000 122,200 20,209 Schedule Operated Departments Rooms Food and Beverage Miscellaneous Income Total Operated Departments Undistributed Operating Expenses Administrative and General Information and Telecommunications Systems Sales and Marketing Property Operation and Maintenance 7 Uties Total Undistributed Operating Expenses Gross Operating Profit Rent, Property Taxes, and Insurance EBITDA Interest Expense Depreciation and Amortization Income Before Income Taces Income Tax Net Income 30,044 33,231 31,652 33,585 49,312 68,752 50,253 66,816 80,964 68,752 388,985 $1.719,393 $254,953 169,127 $587,310 219,858 $372,267 200,861 304,002 52,148 115,860 135,994 48,707 $ 87 287 Step by Step Solution
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