The Local Restaurant- Profit & Loss StatementMay-23 Month of May 2023Month of June 2023ItemExpenses SalesRent$7,500 Hydro$350 Heat$300 Internet$80 Waste removal$40 Wages and salaries$18,500 Property Tax$240 Total Sales00Insurance$220 COGS Jun-23 ItemExpenses Rent$7,500 Hydro$350 Heat$175 Total COGS00Internet$80 Waste removal$40 Gross ProfitEquipment Repair$180 Wages and salaries$19,000 Labor CostsProperty Tax$240 Insurance$220 Operating Costs Total Operating Cost 00 Net Profit/Loss For May 2023 For May 2023, The Local Restaurant made worth $250000 in food sales, $140000 in sales of beer, $100000 in wine, $60000 in cocktails and $15000 in sales of Merchandise. The beverage cost of the restaurant stayed at 24%, merchandise stayed at 60%, and the food cost stayed at 29%. The restaurant also made a sale through outdoor catering of $70000, while overall catering costs stayed at 30%. For June 2023 For June 2023, The Local Restaurant made worth $325000 in food sales, $190000 in sales of beer, $85000 in wine, $75000 in cocktails, and $7800 in sales of Merchandise. The beverage cost of the restaurant stayed at 24%, merchandise stayed at 60%, and the food cost stayed at 30%. The restaurant also made a sale through outdoor catering of $40000, while overall catering costs stayed at 30%. Beginning of this month, the restaurant spent on new menu cards for summer $3400. Besides, the wages and salaries of regular staff, the restaurant used casual/on-call staff for outdoor catering and general help, spending $4500 on them. Calculate Net profit/loss for each month. Make an analysis after comparing both months.