PLEASE SOLVE THIS QUESTION IN AN EXCEL SHEET ?

1 a. Given that food sales are $450,000 for the year and beverages sales are 80,000, prepare a statement of income for Mavericks Restaurant using the expenses below. (Use Figure 1.1 on pg 5 as a guide). Hint: Remember controllable fixed costs fall under Other Controllable Expenses. (round to two decimal points)

Administrative Expenses $4,000

Employee Benefits $27,550

Cost of food sold $140,000

Salaries and wages $120,000

Utilities $26,000

Depreciation on equipment $14,100

Cost of beverages sold $16,230

Interest expense $3,100

Occupancy costs $33,200

Advertising $5,000

b. Based on the figures above, calculate:

Prime cost percent

Overhead cost percent

Profit percent

(Remember to ensure they equal up to 100%)

Labor cost percent

Food cost percent