The following information was extracted from the books of Ocean Secrets Hotel and Spa account for the year ended December 31, 2012. $ Revenue Rooms 600,000 Food 450,000 Beverage 120,000 Telephone 45,000 Other Income 33,400 Costs and other data Opening Stock- Food 40,000 Opening Stock Beverage 30,000 Purchases Food 100,000 Beverage 75,000 Departmental Payroll and related expenses Rooms 80,000 Food 100,000 Beverage 75,000 Telephone 20,500 Administrative & General 40,000 Marketing 10,500 Property Operation & Maintenance 20,500 Other Departmental Expenses Rooms 50,000 Food 30,000 Beverage 20,000 Telephone 4,000 Admin & General 40,000 Marketing 25,000 Energy Costs 30,000 Property Operation & Maintenance 17,500 Fixed Charges Property Taxes and fixed rates 20,000 1. Depreciation had not been provided on any of the assets purchased in the current period. The hotel uses the reducing balance method to calculate the depreciation on its non-room assets and charges a full years worth of depreciation on the asset in the year of purchase. Type of Asset Cost $ Net Book Value$ Rate Computer Equipment 250,000 175,000 5% Laundry Equipment 200,000 100,000 10% Tools 50,000 25,000 20% Additionally, the hotel estimates that 10 guests rooms built during the year at a total cost of $3,000,000 and will have a useful life of 10 years and a negligible residual value. You are to calculate the depreciation on the rooms, charging a full years worth of depreciation. 3. A following items relevant to the 2012 period have not been paid: (a) A National Water Commission bill in the amount of $1,200 (b) A Jamaica Public Service bill in the amount of $4,950 4. Income tax is to be charged at a rate of 25%. Please round to the nearest whole number. 5. Stock as at December 31, 2012: Food $10,000 Beverage $9,500 Required Prepare an Income Statement based on the uniform system of accounts format. Show all workings