COMPARATIVE INCOME STATEMENT COMPARATIVE COMMON SIZE INCOME STATEMENT 2008 2009

Question

COMPARATIVE INCOME STATEMENT COMPARATIVE COMMON SIZE INCOME STATEMENT 2008 2009 SALES ROOM FOOD & BEVERAGE OTHER 850,000 320,000 38,000 960,000 422,000 41,500 TOTAL SALES 1,208,000 1,423,500 COST OF SALES: LABOR FOOD BEVERAGE OTHER 341,000 160,000 62,000 21,000 421,000 174,000 66,000 28,000 TOTAL COSTS 584,000 689,000 EXPENSES INSURANCE PROPERTY TAXES UTILITIES MAINTENANCE OTHER 24,000 20,000 36,000 40,000 30,000 36,000 26,000 39,000 42,000 27,000 TOTAL EXPENSES 150,000 170,000 NET INCOME 474,000 564,500 Using the above information prepares 1. A Comparative Income Statement 2. A Comparative Common-Size Income Statement

Explanation / Answer

Comparative income statement

2008 2009 Changes
in $ Changes
in % Sales: Room 850000 960000 110000 12.94% F&B 320000 422000 102000 31.88% Other 38000 41500 3500 9.21% Total 1208000 1423500 215500 17.84% Cost of sales: Labor 341000 421000 80000 23.46% Food 160000 174000 14000 8.75% Beverage 62000 66000 4000 6.45% Other 21000 28000 7000 33.33% Total costs 584000 689000 105000 17.98% Expenses: Insurance 24000 36000 12000 50.00% Property taxes 20000 26000 6000 30.00% Utilities 36000 39000 3000 8.33% Maintenance 40000 42000 2000 5.00% Other 30000 27000 -3000 -10.00% Total expenses 150000 170000 20000 13.33% Net income 474000 564500 90500 19.09%

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