Each answer, a) and b) is worth 1 point. In answer b), each number is worth .2. Using the Excel Spreadsheet providedseparately, do the following:

a) Prepare the Sunshine Pubs Income Statement and copy and paste your result below.

b) Determine the following percentages:

1) Food cost percent

2) Labor cost percent (payroll, plus employee benefits)

3) Beverage cost percent

4) Percentage of profit before income taxes

5) Assuming the restaurant has 75 seats, determine food sales per seat for the year.

paste CD-ROM Exercise 2.2 Use the figures given below to complete the statement of i for the Sunshine Pub Depreciation, $25,000 Food sales, $375,000 Cost of beverages sold, $30,000 Other controllable expenses, $60,000 Salaries and wages, S130,000 Beverage sales, S125.000 Employee benefits, $20,000 Cost of food sold, $127,500 Occupancy costs, $55,000 Answer: 375.000.00 125.000.00 $ 500,000 00 Sunshine Pub INCOME STATEMENT YEAR ENDED DECEMBER 31, 20xx Sales Food Beverage Total Sales Cost of Sales Food Beverage Total Cost of Sales Gross Profit Controllable Expenses Salaries and Wages Employee Benefits Other Controllable Expenses Total Controllable Expenses income Before Occupancy costs Interest, Depreciation, and income Taxes Occupancy Costs Depreciation Total 127 500.00 30.000 DO 157.500.00 S 342.500.00 130 000.00 20.000.00 60.000.00 is 210 000 00 S 132500.00 55.000.00 25000.00 $ 80.000.00 $52.500.00 Restaurant Profit b) Determine the following percentages: 1) Food cost percent