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Take me to the text The following is Gamma Hotel's income statement for the year...

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Accounting

imageimage Take me to the text The following is Gamma Hotel's income statement for the year ended April 30, 2020. Gamma Hotel is a limited-service hotel with 18 rooms and no food and beverage operations. Management does not intend to spend a lot of time and money on budgeting. The manager has determined the 2021 budgeted income statement should simply reflect the following predicted changes from the 2020 income statement: - Revenues will increase by 1.5% - Marketing costs will decrease by 6% - Management salaries will increase by 3% - Variable wages will remain consistent as a percentage of revenue - Utilities will increase by 3% - Administrative costs and rent will remain the same Prepare the budgeted income statement for the year ending April 30,2021 using the incremental budgeting approach

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