Use the following information to prepare an Income Statement for Joe’s Restaurant, Inc., for the year ended March 31, 2018. 

The correct format must be used and can be found below 

Format to be used is shown below

Payroll 70 000 Employee benefits 10 600 Cost of food sold 45 000 Cost of liquor sold 20 000 Food sales 135 000 Utilities 6 000 Depreciation 11 400 Income taxes 250 Property insurance 5 485 Supplies expense 4 000 Rent 10 750 Liquor sales 65 000 Interest 6 450 Advertising 2 170 Property taxes 3 000