9. Prepare a Summary Operating Statement according to the format shown in the chapter. Following is the general ledger information for a small hotel. Not all information may be necessary to prepare the statement. Room sales Food and beverage sales Rentals and other income Payroll and other expenses: Rooms Cost of food sales Payroll and other expenses: F&B Administrative and general Marketing Property operation and maintenance Utilities Management fees Rent Property taxes Insurance (property & liability) Interest Depreciation Amortization Income tax expense 1,050,000 525,000 20,000 335,000 175,000 250,000 165,000 67,000 62,000 45,000 20,000 28,000 45,000 7,000 195,000 140,000 6,000 12,000 Note: The company has estimated its replacement reserve for the period to be $15,000 Use the information from problem 9 to prepare an income statement that would be sent to stockholders