Trial Balance for Media Marketing at 31^st August 2022

	Debit	Credit
Sales		1,150,850
Bank		34,777
Bank Loan		254,000
Capital		185,800
Trade Receivables	75,300
Trade Payables		14,720
Food & Drink Purchases	62,455
Stock of Food & Drink at 1st Sept. 2021	15,590
Rent & Rates	195,398
Salaries & Wages	477,687
Motor & Travel Expenses	13,200
Insurance	64,788
Advertising	70,260
Fixtures & Fittings	60,940
Kitchen Equipment	44,500
Computers and IT Equipment	234,880
Motor Vehicles	40,000
Telephone/Internet/Sky	34,387
Professional Charges	125,060
Loan Interest	20,654
Repairs and Maintenance	9,778
Miscellaneous Expenses	13,877
Drawings	81,393
	1,640,147	1,640,147

Notes to the trial balance:

Closing stock of Food & Drink at 31st August 2022 was 22,350

Depreciation of Fixtures & Fittings at 15%

Depreciation of Computers and IT Equipment at 20%

Depreciation of Kitchen Equipment at 10%

Depreciation of Motor Vehicles at 10%

Required

1. Prepare an Income Statement for the year ended 31^st August 2022

2. Prepare a Statement of Financial Position as at 31^st August 2022

3. Calculate their Breakeven point in terms of numbers of customers required and their Margin of Safety%

Note: Use the information contained in your Income Statement and assume that the total expenses figure is split: Fixed Costs 55% and Variable Costs 45%.