1. Using the previous Income Statement as a guide, complete the income statement on the following page assuming that total sales revenue will increase.

• The percentage increase will be based on the first 3 numbers of your student number. For example, if your student number is 199 201 200, the percentage increase will be 19.9%.

So based on that increase your new sales revenue would increase by $782,000 x 0.199 = $155,618. This means in this example Sales would be $782,000+$155,618 = $937,618. This would be set at 100% in the new income statement.

• Food sales and Beverage sales would increase in terms of dollars but remain at the same percentage of total sales.
• Cost of food and cost of beverages sold percentages will remain the same. The percentages will remain the same, but the dollar amounts will increase since sales would have increased.
• Fixed costs will remain the same.
• Payroll or Labour costs are considered variable, meaning they are based on total sales. Apply the labour cost percentage you calculated in question 1, to the total Sales in question 2 to calculate Total Labour expenses.

My student no. is 140962218