Westley Fong, manager of The Lucky 88 Motel, has a contract with Appraisers Associates to appraise his 150-room motel, which is located in beautiful downtown Wahiawa. The consultant on the job has determined the following:

1. Occupancy percentages for the most recent year were as follows:

   Daily occupancy % = 80%
   Double (i.e., 2 people per room) occupancy % = 40%
* Average occupancy per room = 1.5 (use this only as a double check, not in a formula)

2. Average room rates were as follows:

   Single rooms = $185.00
   Double rooms = $225.00

3. Room expenses were as follows:

   Labor--fixed = $105,000
   Labor--variable = 15% of room sales
   Other variable expenses = 5.5% of room sales

4. Food sales for the most recent year were as follows:

    a. Breakfast:

• 60% of guests staying in singles dined in the motel's restaurant
• 40% of guests staying in doubles dined in the motel's restaurant
• The average check was $14.95
• And average of 10 breakfast guests per day were non-room guests

    b. Lunch:

• 20% of the hotel guests used the facilities
• 60% of lunch guests were non-room guests
• The average check was $19.79

    c. Dinner  

• 30% of guests staying in singles dined in the restaurant
• 10% of guests staying in doubles dined in the restaurant
• 20% of dinner guests were non-room guests
• The average check was $32.64

5. The food service expenses for a recent year were as follows:

   a. Cost of sales: 35%
   b. Labor: fixed = $75,000, variable = 17.5% of food sales
   c. Other: fixed = $17,500, variable = 15% of food sales

6. Telephone sales and expenses for the most recent year were as follows:

    a. Telephone sales were 4% of total revenue (NOT room + f&b) of the motel
    b. Telephone expenses were 95% of telephone sales

7. Other expenses of the motel were as follows:

	Fixed Expenses	Variable (% of Total Revenues)
Administrative & general	$125,000	4%
Marketing	78,000	3%
Property operation & maintenance	60,000	5%
Utilities	12,500	2.5%
Insurance	25,000	--
Property taxes	30,000	--
Rent	15,000	--

Required:

1. Prepare an operations statement for the most recent year (2020) based on the above information.

2. Leave columns available for forecasting years 2021-2025.