Key Concept Questions

$8-10.$ Given the following data, create monthly and yearly income statements for this Quick$-$Gourmet in New York City.

a$.$ Sales for the month of June were $$600,000.$ Sales for the year were $$5,200,000.$

b$.$ The sum of $$132,000$ was spent on food in June for the year$).$ The store spent $$18,000$ on paper to wrap food items in June and $$216,000$ for the year.

c$.$ Taxes for June were $$30,000.$ For the year, they were $$466,000.$

d$.$ Fixed operating costs for June were $$350,000.$ For the year, they were $$2,000,000.$

e$.$ Use Excel or other software to create a graph showing the monthly and yearly income statements for this business.

$8-11.$ If the owner of Quick$-$Gourmet invested $$600,000$ in start$-$up costs, what was her ROI for the year? $($Assume June as average.$)$

$8-12.$ Calculate the financial ratios $($ROI and ROS$)$ for the monthly and yearly income statement for Quick$-$Gourmet. What do the financial ratios tell you about this business?