Problem 2 The manager of the Spartanland Restaurant is developing the operating budget for next year using the following financial information from the current year: Next Year's Percentage Increase (Decrease) Current Year's Next Year's Amount Amount (S) Item 4% $973,000 $112,500 36% Food revenue 2% Beverage revenue Food cost 1% (1%) 23% Beverage cost 142 Chapter 4 (2%) $298,000 Labor (including benefits) Other operating costs same 16% $70,000 same Fixed costs a. What is the current year's budgeted profit (loss)? b. Develop next year's budget: indicate the profit (loss). Drablom 2