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Prepare a statement of income under USAR for Country Bistro

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Reference no: EM133091119

Question - Country Bistro had the following revenue and expenses for the year ended December 31, 2021.

Revenue-Food $551,600

Revenue-Beverages $369,500

Cost of Sales-Food $137,900

Cost of Sales-Beverages $110,850

Depreciation Expense $61,100

Insurance Expense $21,000

Maintenance Expense $11,800

Rent Expense $134,600

Salaries & Wages Expense-Kitchen $134,700

Salaries & Wages Expense-Servers $56,600

Salaries & Wages Expense-Management $72,900

Supplies Expense $7,300

Utilities Expense $49,500

Required - Prepare a statement of income under USAR for Country Bistro to determine operating income, including percentages. Note that, for simplicity, interest and income tax are not included.

Reference no: EM133091119

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