'Retreats-R-Us Properties' "Retreats-R-Us Properties' is a small eco-friendly resort located on a tiny island in Eleuthera, in The Bahamas. The resort consists of 10 freestanding structures that make up the resort. There is also a shared dining space and a small 'event' space- an outdoor terrace overlooking the ocean. The resort attracts both transient guests as well as small groups (business retreats, wellness retreats, family reunions). Considering the information given below, create a profit and loss statement for the resort. Please note you will need to represent ALL information on your sheets and categorize each item. The resort is located on a hilltop with an ocean view spanning 10 acres and the land is worth $987,000. For its guests, the resort owns numerous assets different non- motorized 'ocean toys' such as kayaks, paddleboards, snorkel gear, surfboards, etc. - these are valued at $17,000. The resort owns two speed-boats to ferry guests back and forth. Each boat is worth $30,000 individually. Each resort's building which includes multiple structures is worth $78,900. Currently, the resort is hosting a mindful meditation and yoga retreat on the property. In total, the group, Jimmy's Yoga has paid $15,000 for the retreat. The group, Jimmy's Yoga still owes $5,000 to the resort for this booking. In order to host this retreat, the resort had to hire a teacher. She has been paid part of her contract but she is still owed $2,500. Currently, the resort has $12,000 cash on hand. Finally, the lodge has retained profits in its bank $200,000 from prior years. and has Shared capital of $340,000. Last year, the resort generated revenues of $1,450,000. Currently, the resort employs 5 people that that account for $250,000 worth of last year's payroll. They also employ one person who handles all the marketing and social media relations for the resort. Their salary last year was $50,000. They incurred $274,000 of other expenses directly related to sales last year. Other operating expenses included depreciation of $41,000 and insurance costs of $21,000. Finally, they were taxed at 40% of their net profit last year.