Question: 5. Based on what you know, prepare an income statement for Eat Here. Based off of opening Sales = 555,555 minus Costs 500,000 = 55,555

5. Based on what you know, prepare an income statement for Eat Here. Based off of opening Sales = 555,555 minus Costs 500,000 = 55,555 Gross Profit or 10% profit before taxes 28% Food Cost = 140,000 33% Labor Cost = 165,000 14% Wine Cost = 70,000 3% Beer Cost = 15,000 8% Liquor Cost = 40,000 4% Lease Cost = 20,000

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