Problem 12 The Salazar Sunset Inn (SSI) has three major operated departments: rooms, food, and Prepare a summary income statement (see Exhibit 4). The SSI chooses to show food and as two separate departments. Assume an average tax rate of 25 percent. beverages. The following information is supplied to you as of December 31, 2016: Account Account Balance Insurance (fire) Rooms department --salaries and wages $ 20,000 150,000 Food department-salaries and wages 160,000 Beverage department-salaries and wages 40,000 Management fees 50,000 Supplies--food department 40,000 Cost of food sold 180,000 Cost of beverages sold 60,000 Room sales 1,000,000 Dividend income 15,000 Interest expense 85,000 Food sales 540,000 Beverage sales 200,000 A&G-wages 80,000 Supplies - beverage department 15,000 Advertising 30,000 Maintenance-contract 40,000 Information & telecom.systems-contract 20,000 Depreciation 50,000 Heat 40,000 Franchise fees 25,000 Power and lights 30,000 Amortization of initial franchise fee 5,000 80,000 Supplies & other-rooms department 50,000 Property taxes A&G-other expense 40,000 Room-allowances 2,000 Required: beverage