Take me to the text Proper Studio is a beauty salon that provides hair and nail services. Hair services and nail services are provided by two separate profit centres. Proper Studio is a sole proprietorship, thus the company is not responsible for paying income taxes. Michelle Mignon, the owner of the salon, does all of the administrative work and does not deduct payroll for herself. Payroll expenses are paid only to the employees that are hired to work in the hair and nails departments. Proper Studio incurred the following revenue and expenses for the year ending October 31, 2016. Cost of Sales Hair Supplies Nail Supplies $9,700 $6,300 Other Expenses Administrative $1,900 Phone and Internet $800 $300 Advertising $600 Repair and Maintenance Utilities $900 $28,000 Payroll-Hair Employees Payroll-Nail Employees $17,500 $1,700 Rent $17,500 Payroll-Nail Employees Rent Property Taxes $1,700 $1,300 $2,200 $900 Insurance Interest Depreciation $1,900 Revenue Hair Revenue $56,000 $35,000 Nail Revenue Required Arrange the above financial information into a summary operating statement for the year ending October 31, 2016. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Proper Studio Summary Operating Statement For the Year Ended October 31, 2016 $ Hair-Operating Revenue Cost of Sales Required Arrange the above financial information into a summary operating statement for the year ending October 31, 2016. Do not enter dollar signs or commas in the input boxes. Do not use negative signs. Proper Studio Summary Operating Statement For the Year Ended October 31, 2016 Hair-Operating Revenue Cost of Sales Payroll and Related Expenses $ Departmental Income $ Nail-Operating Revenue IS Cost of Sales $ Payroll and Related Expenses 5 Departmental income Total Departmental Income Nail-Operating Revenue $ Cost of Sales $ Payroll and Related Expenses $ $ Departmental Income Total Departmental Income ta Undistributed Operating Expenses Administrative and General $ Information and Telecommunications Systems $ Sales and Marketing Property Operations and Maintenance $ $ $ Utilities $ Total Undistributed Expenses $ Gross Operating Profit Non-Operating Expenses Utilities $ Total Undistributed Expenses $ $ Gross Operating Profit $ Non-Operating Expenses Rent $ Property and Other Taxes UP Insurance $ Total Non-Operating Expenses $ Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) $ Less: Interest $ $ IS Depreciation LA Total Interest and Depreciation LA Net Income