please answer step by step using excel formula ( or type out how it comes out, like revenues)

The MCU Hotel has a 20% market share in the Taoyuan area of Taiwan. Simplified income statements for MCU Hotel and the lodging industry for the Taoyuan area are as followed 1. Prepare common-sized income statements for both MCU Hotel and the lodging industry 2. What areas appear to require the attention of MCU Hotel's management? MOU Hotel Industry in Taoyuan Area Sales 50,000 200,000 9 Cost of sales 5,000 25,000 D Labor costs 15,000 54,000 1 Other operating costs 10,000 30,000 2 Fixed charges 15,000 50,000 Income before income taxes 4 Income taxes 1,000 5,000 |Net income 16 17 18 19 Common-Size Income Statement 20 MOU Hote Percent of Total Revenue 21: 50, 000 Cost of sales 5,000 Labor costs 15,000 24 Other operating costs 10,000 25 Fixed charges 15,000 26 Income before income taxes Income taxes 1,000 29 30 31 Common-Size Income Statement 32 Industry in Taoyuan Area Percent of Total Revenue 33 Sales 200,000 34 Cost of sales 25,000 5 Labor costs 64,000 Other operating costs 30,000 7Fixed charges 50,000 38 Income before income taxes 39 Income taxes 5,000 40 Net income 41 2 What two areas appear to require the attention of MOU Hotel's management? 43 a. Sales 44 b. Cost of sales 45 c. Labor costs 45 d. Other operating costs 47 e. Fixed charges 48 f. Income before income taxes 49 g. Income taxes 50 f. Net income 51 ANSWER 1 52 ANSWER Z