RPTA 61 Name: Module 6 Exercise: Should We Close the Shop During Off Season? You have the following quarterly income statement of a restaurant operation: The owner is contemplating closing the restaurant in the 4th quarter in order to eliminate the loss and take a three-month vacation. The owner has asked for your help. Before giving your decisions, you analyzed types of expenses if the restaurant is closed for the 4 th quarter. Q1. Complete the following 4th quarter income statement based on the assumption that the restaurant will be closed. (Tips: Adjust the accounts in the following table based on the types of information identified above.) Q2. What is the operating income for the whole year if the restaurant is closed in the 4th quarter? Q3. What is the operating income for the whole year if the restaurant remains open in the 4th quarter? Q4. Should the restaurant be closed or open in the 4th quarter