EXTRA CREDIT PROBLEM Please use EXCEL to complete this problem. Hand in a copy of your solution and email me a copy of your spreadsheet. Make sure it shows your work. I want to be able to see how you performed the required calculations. The Raceway Motel has two operating departments: rooms and food. The following information is provided for the year ended December 31, 2017. Fire insurance Rooms department salaries and wages Food department salaries and wages Supplies and other -food department Food purchases Room sales Interest income Cost of food sold Food sales Administrative & General-salaries and wages Advertising Maintenance contract Information & Telecom Systems Depreciation electricity Heating oil Supplies and other-rooms department Property taxes Administrative & General-other expenses Franchise fees Management fees 90,000 60,000 20,000 65,000 550,000 ?77 77? 250,000 60,000 12,000 25,000 15,000 45,000 15,000 12,000 30,000 15,000 15,000 ?7? 1,000 Rooms allowances 1) The motel invested $30,000 on July 1, 2017 in XYZ bonds. The bonds paid interest at the rate of 12%. 2) The beginning and ending food inventories were $5,000 and $4,000 respectively 3) Food consumed by the food and rooms department employees, free of charge during the year totaled $500 and $300 respectively. 4)Fringe benefits and payroll taxes, including the cost of employee meals, are 20% of Other information