I need help with PART 2: Also, it will not let me upload the excel sheet

Monmouth Mountain Hotel, is a resort hotel in the California Sierra mountain, near a national park. The resort is 4 season resort but 2 seasons dominate visitor occupancy rates, winter and summer. For the hotel, management expects occupancy rates to be 95 % in December, January, February and July & August. At 85% in November and June; and 75% the rest of the year. This hotel has 575 rooms and the room rental is $300.00 per night all year. Of this, on average 10% is received as a deposit the month before the stay, 60% is received in the month of the stay, and 28% is collected the month after. The remaining 2% is never collected and assumed bad debt in the current month as a sales & general admin cost.

Most of the costs of running the hotel are fixed. The variable costs are only $75.00 per occupied room, per night. Fixed salaries (including benefits) run $1,025,000 per month, depreciation is estimated to be $820,000 a month, other fixed costs are $535,000 per month, and interest expense is $745,000 per month. Principal reduction on the note is $1,200,000 semi-annually. Fixed, variable costs and salaries are paid in the month they are incurred, and principal & interest is paid semi-annually each June and December. No new fixed assets are expected to be purchased during the year.

Please prepare the following financial statements as assigned. Each should have proper heading, titles and format for the period they cover. You are making a presentation to a client. The financial statements need to be in Excel format with formulas. The attached template is an idea starter and the general format the client is looking for. Answer the questions proposed and share your observations. Summarize your answers & conclusions for each part in a textbox within the Excel spreadsheet. Use 1 Excel spreadsheet, but use separate tabs within that spreadsheet for required parts of the project.

Project Part 1 (already completed):

The client wants your accounting firm to prepare a detailed and summarized monthly cash budget for the Monmouth hotel for the entire calendar year. For simplicity, assume that there are 30 days in each month. Make sure you place proper headings and titles on your cash budget.

Assume the starting cash balance for January 1 is 500,000, build the monthly cash table at the bottom using the $500,000 as the start, add January activity to get January ending, aka February beginning balance.

Question: Does the hotel have enough every month to pay all their expenses, principal and interest?

Please place your answers in a text box for each part to summarize your answers. Also, your cells need to contain the Excel formulas to show your work. Label this tab Cash flow statement

Project Part 2 :

1. The client wants your accounting firm to prepare a traditional monthly income statement (profit and loss statement) using the information above in accrual method.
2. Take the monthly information and prepare an annual statement in accrual format in separate tab.

You can use the template as a sample again to build your budgets, create new tabs labeled Income Statement, Monthly & annual. Some of the information can feed from the cash flow statement.

Question: What differences do you see from the cash flow model and accrual income statement model? Why is that?

Please place your answers in a text box for each part to summarize your answers. Also, your cells need to contain the Excel formulas to show your work.

Use the template for your budget: