Unit 8 Activity 3 - The Income Statement A. In the table below, complete the two additional columns for 1) Dollar Increase or Decrease and 2) Percentage Increase or Decrease Dollar % Increase Increase or or Decrease 20-4 20-3 Decrease Revenue Food and Dining $163,595 $150,290 Liquor and Bar 197,492 181,410 Total Revenues $361,087 $331,700 Operating Expenses Bank Charges Expense $920 $ 1,520 Car Expense 3,516 3,725 Insurance Expense 1,800 1,800 Utilities Expense 1,610 1,570 Food and Liquor Expense 157,315 140,290 Miscellaneous Expense 920 950 Rent Expense 24,000 24,000 Telephone Expense 1,350 1,290 49,316 51,374 Wages Expense Total Expenses Net Income $240.747 $ 120,340 $226 519 $ 105 181 B. Complete the common-size income statement below for both years. Revenue Food and Dining Liquor and Bar Total Revenues FIESTA RESTAURANT INCOME STATEMENT YEAR ENDED MARCH 31, 20-4 AND 20-3 20-4 20-3 % % $150,290 181,410 $331,700 $163,595 197, 492 $361.087 Operating Expenses Bank Charges Expense $920 $1,520 Car Expense 3,516 3,725 Insurance Expense 1,800 1,800 Utilities Expense 1,610 1,570 Food and Liquor Expense 157,315 140,290 Miscellaneous Expense 920 950 Rent Expense Telephone Expense Wages Expense Total Expenses Net Income 24,000 1,350 49,316 $240.747 $ 120,340 24,000 1,290 51,374 $226,519 $ 105,181