please answer the following based on your service style assigned for your concept project.

Attached are the profit and loss statement for four different service style concepts. You are required to...

1. describe what the specific net profit/loss amount indicates for the business and
2. identify the top area, in your opinion, where the business operators can decrease expenses/costs.

Profit & Loss Statement
	Casual Dining Operation	Percent of Total Sales
Sales Sales by category
Food	$4,310,010.00	81.00%
Liquor	$957,780.00	18.00%
Other Sales	$53,210.00	1.00%
Total Sales	$5,321,000.00	100.00%
COGS Cost of Goods Sold
Food	$1,596,300.00	30.00%
Liquor	$904,570.00	17.00%
Total COGS	$2,500,870.00	47.00%
Gross Profit	$2,820,130.00	53.00%
Labor Costs Wages paid to employees
Salaried	$319,260.00	6.00%
Hourly	$798,150.00	15.00%
Training Costs	$159,630.00	3.00%
Payroll Tax	$106,420.00	2.00%
Benefits	$212,840.00	4.00%
Total Labor Cost	$1,596,300.00	30.00%
Prime Cost	$4,097,170.00	77.00%
Operating Expenses Incidentals of business
Supplies	$120,000.00	2.26%

Repairs	$30,000.00	0.56%
Advertising	$25,000.00	0.47%
Loan or Investor Repayment	$9,530.00	0.18%
Total Operating Costs	$184,530.00	3.47%
**Total operating costs should range between 4-6%
Occupancy Expenses Fixed location costs
Rent/Mortgage	$36,000.00	0.68%
Licenses/Insurance	$1,800.00	0.03%
Utilities	$76,200.00	1.43%
Renovations	$45,000.00	0.85%
Total Occupancy Costs	$159,000.00	2.99%
**Total occupancy costs should be under 10%
Depreciation Diminishing value over time
Value Lost	$7,000.00	0.13%
Net Profit/Loss	$873,300.00	16.41%
*Note percentages provided are estimations for practical purposes.