Worksheet question. Use the figures given below to complete the Statement of Income for the Sunshine Restaurant (you can use the Excel worksheet provided separately and copy/paste your answer below if you would like or calculate using the worksheet below.)

Figures to use:

Food Sales $475,000

Salaries and Wages $190,000

Beverage Sales $150,000

Other Controllable expenses $70,000

Beverage Cost $30,000

Employee Benefits $35,000

Food Cost $127,500

Occupancy Costs $75,000

Interest expense 15,000

Depreciation Expense $25,000

Note: The third column is for totals, and it helps to calculate the Restaurant profit using totals. I inserted arrows to show you which totals go to the third column.

Income before Occupancy costs, Interest, Depreciation, and Income Taxes = Gross profit Total controllable expenses

Restaurant profit = Income before Occupancy costs, Interest, Depreciation, and Income Taxes - Total Occupancy Costs

If you decide to copy/paste your Excel spreadsheet answers, just delete the worksheet below and all the arrows and replace it with the Excel answer.

SUNSHINE RESTAURANT INCOME STATEMENT YEAR ENDED DECEMBER 31, 20XX
Sales
Food	$
Beverage	$
Total Sales		$
Cost of Sales
Food	$
Beverage	$
Total Cost of Sales		$
Gross Profit		$
Controllable Expenses
Salaries and Wages	$
Employee Benefits	$
Other Controllable Expenses	$
Total Controllable Expenses		$
Income before Occupancy Costs, Interest, Depreciation, and Income Taxes		$
Occupancy Costs	$
Interest	$
Depreciation	$
Total Occupancy Costs		$
Restaurant Profit		$