1. Conduct a vertical analysis (common-size analysis) for the income statements of Boatman Hotel for the months ended March 31 and April 30, 2016.

	March	April
Revenues:
Rooms	375,236	425,105
Food and Beverage	186,253	176,523
Telecommunications	4,213	5,326
Other Income	46,879	49,654
Total Revenues
Cost of Sales:
Rooms	130,256	154,987
Food and Beverages	142,516	135,216
Telecommunications	3,453	4,123
Other Income	35,648	41,213
Total Cost of Sales	311,873	335,539
Gross Profit:
Rooms	244,980	270,118
Food and Beverages	43,737	41,307
Telecommunications	760	1,203
Other Income	11,231	8,441
Total Gross Profit
Operating (Controllable) Expenses:
Administration & General	11,605	18,256
Marketing	41,219	44,362
Franchise Fees	21,005	24,032
Property Operations and Maintenance	37,456	38,612
Utilities	32,156	36,459
Total Operating Expenses	143,441	161,721
Operating Income
Other (Non-controllable) Expenses:
Management Fee	6,145	6,425
Property Taxes	25,613	25,613
Reserve for Capital Improvements	18,321	20,153
Insurance	6,901	6,852
Interest Expense	75,004	78,450
Total Non-controllable Expenses	131,984	137,493
Income Before Income Taxes