Utilizing the income statement and balance sheet provided, and solve for total gross profit, net fixed assets, operating income, income before income taxes, total liabilities and total owners equity, following for the Grand Hotel as of December 31, 2016. Revenues: Rooms 840000 Current Food 465000 Assets: Telecommunications 47000 Cash 24000 Short-term 1352000 Total Revenues 145000 investments Accounts Cost of Sales 140000 Receivable Rooms 0 Inventories 15000 Prepaid Food 148000 14000 expenses Total Telecommunications 31000 current 338000 assets Total Cost of Sales 179000 Fixed assets Gross Profit Land 68500 Rooms 840000 Buildings 880000 Furniture and Food 317000 208000 Equipment Accumulated Telecommunications 16000 (381000) Depreciation Food 317000 Telecommunications 16000 Total Gross Profit Furniture and 208000 Equipment Accumulated Depreciation (381000) Net fixed assets Other Assets- 62800 Operating Equipment Total Assets 1176300 Operating Controllable Expenses Payroll and related costs Direct Operating Expenses Marketing 335500 109500 55000 71000 Utilities 81500 34000 Current Liabilities Accounts Payable Accrued Income Taxes Accrued Expenses Current Portion of Long-Term Debt Administration & General 108500 85000 Property Operation 67500 and Maintenance 24000 Total Operating Expenses 757500 Operating Income Other (non- controllable expenses) Rent 20000 Property Taxes 24000 Total Current 214000 Liabilities Long Term 445000 Debt Total Liabilities Owner's Equity Common 55000 Stock Paid-in Capital in 110000 Excess of Par Retained 352300 Earnings Total Owner's Equity Total Insurance 6000 Depreciation 61000 Interest 60000 Interest 60000 Total Owner's Equity Total Liabilities and Owner's Equity Total Non- controllable expenses 171000 1176300 Income before Income taxes Income Taxes Net Income 97800 146700