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  1. business
  2. accounting
  3. a) prepare a summary operating statement and b) an

A) Prepare a Summary Operating Statement AND B) an income statement that would be sent...

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Question

Accounting

A) Prepare a Summary Operating Statement AND

B) an income statement that would be sent to stockholders

use this information:

room sales $1,053,890

food and beverage sales 524,570

rentals & other income 19,033

payroll & other expeneses: rooms 334,356

cost of food sales 178,310

payroll & other expenses: F&B 258,883

administrative and general 164,181

marketing 67,868

property operations and maintenance 61,554

utilities 47,312

management fees 20,000

rent 28,500

property taxes 45,324

insurance (property & liability) 6,914

interest 192, 153

depreciation 140,000

amortization 6,000

income taxes expenses 12,000

note: the company estimates its replacement reserve for the period to be $15,000

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