The following information is from Bluff Run Golf Courses. The company runs three courses and the July income statement for each course is shown.

BLUFF RUN GOLF COURSE

Income Statement

Month Ending July 31, 2018

	Blue Course	Black Course	Gold Course
Revenue
Greens fee revenue	$62,500	$89,000	$42,800
Outing revenue	?	6,000	28,000
Total revenue	73,500	95,000	70,800
Expenses
Landscaping	$7,800	$14,200	$6,400
Wages	43,900	?	32,600
Repair and maintenance	5,600	2,600	4,400
Fuel	3,100	3,000	1,980
Utilities	1,800	3,000	1,650
Total expenses	$62,200	$79,100	$47,030
Operating Income	$11,300	$15,900	?

Required:

1. Find the missing value for outings revenue, wages, and operating income.
2. Comment on the financial performance of each course.
3. Identify a limitation of analyzing the information provided.

Work and Solution: