Problem 22 The Wilkin Inn's partially completed condensed comparative income statements are as follows: Difference 20X1 20X2 $ % Total Revenues $1,000,000 $ 1,200,000 600,000 25.0 Rooms- Revenues Labor Costs & Related Expenses Other Expense 100,000 10,000 50,000 10.0 130,000 15,000 10.0 3,500 10.0 60,000 Department Income Food-Revenues 350,000 Cost of Sales Labor Costs & Related Expenses 75,000 Other Expense Department Income Gift Shop-Revenues Cost of Sales 40,000 Labor Costs & Related Expenses Other Expense Department Income Total Operated Department Income Undistributed Operating Expenses: Administrative & General 100,000 Information & Telecommunications Systems 25,000 12.0 14.0 2,000 1,000 8,000 11.0 28,000 60,000 12.0 3,000 5,000 10,000 12.0 250,000 30,000 32,000 3,000 Sales & Marketing Property Maintenance Utilities Total Undistributed Operating Expenses Management Fees Income Before Non-Operating Expenses Rent, Property Taxes, and Insurance EBITDA Interest Depreciation Income Before Income Taxes Income Taxes Net Income 100,000 196,714 6.0 306,914 80,000 20,000 5,000 20.0 6,000 10.0 Required: Complete the above comparative income statements. Problem 23 sted below is financial information for the Harh X2