Question

please use Excel if you can, thank you very much.

Income Statement with Budget

Please complete the change and upcoming year columns based on the following information:

• Food and beverage sales will both increase by 5%

• Food and beverage cost percentages will remain the same

• Salaries and wages will increase by 4%

• The cost of employee benefits will increase, but will continue to be the same percentage of salaries and wages

• Other controllable costs will increase by $6,500

• Occupancy costs will increase by $2,000

• Interest and depreciation will remain the same

						Change	Upcoming
Sales							Year
	Food			$1,120,964.00
	Beverage			$465,200.00
	Total Sales				$1,586,164.00
Cost of Sales
	Food			$392,337.00
	Beverage			$102,344.00
	Total Cost of Sales				$494,681.00
Gross Profit					$1,091,483.00
Controllable Expenses
	Salaries and Wages			$396,541.00
	Employee Benefits			$99,135.00
	Other Controllable Expenses			$275,330.00
Total Controllable Expenses					$771,006.00
Income Before Occupancy costs		ancy Costs,			$320,477.00
Interest, Depreciation, and Income Taxes
Occupancy Costs				$75,230.00
Interest				$25,600.00
Depreciation				$79,099.00
Total					$179,929.00
Restaurant Profit					$140,548.00

Answer 1