QUESTION 1 The Blue Ribbon Restaurant has the following Income Statement. Please fill in the blanks by calculating the appropriate amounts and percentages, so that the restaurant has a complete statement. Please do not type dollar ($) and (%) characters. Just numbers. For dollar amounts, please use the following format: X.XXX.XXXX For percentages, please round up to one digit only, according to the following format: XX.X For percentages, please do NOT use the format.XX. For example, for a percentage of 40.1%, please type 40.1 and NOT.40 Assume that income tax is 35% SALES Food Beverage Total Sales COST OF SALES Last year ($) 6,512,500 925,400 Percentage (%) 100.00 Food 2,125,100 Beverage 201,100 Total Cost of Sales 31.3 GROSS PROFIT Food Beverage Total Gross Profit OPERATING EXPENSES Salaries and Wages 1,252,000 Employee Benefits 250,550 3.4 Direct Operating Expenses 301,500 4.1 Music and Entertainment 6,500 0.1 Marketing 62,540 0.8 Utility Services 140,500 1.9 Repairs and Maintenance 131,750 1.8 Administrative and General 134,775 1.8 Total Operating Expenses Operating Income Interest 335,100 4.5 Occupancy 129,800 1.7 Depreciation 405,100 5.4 Income before Income Taxes Income Taxes 686,555 9.2 Net income Please fill in the blanks below by using Yes or No. If the restaurant had the goal of exceeding 10% in Net Income %, did the restaurant accomplish its goal? Yes or No? If the restaurant had the goal of not exceeding 25% in Food Cost %, did the restaurant accomplish its goal? Yes or No? If the restaurant had the goal of not exceeding 25% in Beverage Cost %, did the restaurant accomplish its goal? Yes or No? If the restaurant had the goal of not exceeding 30% in Income before Income Taxes %, did the restaurant accomplish its goal? Yes or No?