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USI LIL and food. The following Problem 6 The D.R. Inn (DRI) has two major operated departments: rooms and food. The information is supplied to

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USI LIL and food. The following Problem 6 The D.R. Inn (DRI) has two major operated departments: rooms and food. The information is supplied to you as of December 31, 20X6: Account Balance Account $ 200,000 Rooms Department -Salaries and Wages 180,000 Food Department-Salaries and Wages 40,000 Supplies and Other-Food Department 100,000 Supplies and Other-Rooms Department Rooms Sales 1,200,000 Interest Income Cost of Food Sold Food Sales 600,000 Rental Revenue (Lobby Space) 50,000 Food Purchases 360,000 Other information is as follows: 1. Two years ago, the DRI invested $200,000 in State of Colorado bonds. Interest is paid on the bonds at an annual interest rate of 9 percent. 2. The beginning and ending inventories of food were $8.000 and $9,000, respective Food consumed by the food and rooms department employees during the year charge) totaled $2,000 and $1,000, respectively. 3. Fringe benefits and payroll taxes for all employees, including free food, are of gross salaries and wages. Required: Prepare the top portion (that is, the operated department's section) of the in for the DRI. Follow the summary income statement shown in Exhibit 4. ding free food, are 20 percent on) of the income statement

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