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Exercise 14-33 Drop Product Line (LO 14-4,14-5) Day Street Deli's owner is disturbed by...

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Accounting

Exercise 14-33 Drop Product Line (LO 14-4,14-5)
Day Street Deli's owner is disturbed by the poor profit performance of his ice cream counter. He has prepared the following profit analysis for the year just ended.
Sales
Less: Cost of food
Gross profit
Less: Operating expenses:
Wages of counter personnel
Paper products (e.g., napkins)
Utilities (allocated)
Depreciation of counter equipment and furnishings
Depreciation of building (allocated)
Deli manager's salary (allocated)
Total
Loss on ice cream counter
$55,000
25,000
$30,000
[$14,000],[5,000],[3,400],[3,000],[5,000],[3,500]
33,900$(3,900)
Required:
Correct the owner's profit analysis for the year just ended.
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