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# Ms G's Guide to the Restaurant Income Statement

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### Ms G's Guide to the Restaurant Income Statement

1. 1. Connecticut School ofHospitality
2. 2. Connecticut School of Hospitality Stowe Room Café Statement of Income For the Month Ending October 31, 20XXSales AMOUNT %Food sales 325,658.00 76.44%Beverage salesTotal Sales 426,023.00 100.00% To Calculate Beverage Sales: Total Sales - Food Sales 426023.00 - 325658.00 = 100365.00 To Calculate Beverage Sales %: Beverage Sales/ Total Sales 100365.00 / 426023.00 = .2355858(Round to two decimal places) 23.56%
3. 3. Stowe Room Café Statement of Income For the Month Ending October 31, 20XXSales AMOUNT %Food sales 325,658.00 76.44%Beverage sales 100,365.00 23.56%Total Sales 426,023.00 100.00% To Calculate Beverage Sales: Total Sales - Food Sales 426023.00 - 325658.00 = 100365.00 To Calculate Beverage Sales %: Beverage Sales/ Total Sales 100365.00 / 426023.00 = .2355858(Round to two decimal places) 23.56%
4. 4. Cost of Goods SoldCost of food sold 38.00%Cost of beverage sold 21,076.65Total Cost of Goods SoldCost of Food Sold is 38% of Food Sales325658.00 x .38 = 123750.04Cost of Beverage Sold / Beverage Sales gives %21076.65 / 100365.00 = .21 or 21%Total Cost of Goods Sold = Cost of Food Sold + Cost of Beverage Sold 123750.04 + 21076.65 = 144826.69
5. 5. Cost of Goods SoldCost of food sold 123,750.04 38.00%Cost of beverage sold 21,076.65 21.00%Total Cost of Goods Sold 144,826.69 34.00%Cost of Food Sold is 38% of Food Sales325658.00 x .38 = 123750.04Cost of Beverage Sold / Beverage Sales gives %21076.65 / 100365.00 = .21 or 21%Total Cost of Goods Sold = Cost of Food Sold + Cost of Beverage Sold 123750.04 + 21076.65 = 144826.69 Total Cost of Goods Sold / Total Sales = % 144826.69 / 426023.00 = .3399504 or 34%
6. 6. AMOUNT %SalesFood sales 325,658.00 76.44%Beverage sales 100,365.00 23.56%Total Sales 426,023.00 100.00%Cost of Goods SoldCost of food sold 123,750.04 38.00%Cost of beverage sold 21,076.65 21.00%Total Cost of Goods Sold 144,826.69 34.00%Gross Profit 281,196.31 66.00%Gross Profit = Total Sales - Total Cost of Goods SoldGross Profit : 426023.00 - 144826.69 = 281196.31Gross Profit % : Gross Profit / Total Sales281196.31 / 426023 = .6600495 or 66%
7. 7. OPERATING EXPENSESSalary & wages 125,500.00Employee benefits 31,375.00Direct operating expenses 6,800.00Marketing 15,000.00Administrative & general expenses 7,412.00Repairs & maintenance 2,850.00Utilities 12,200.00Total Operating ExpensesTo Calculate the % of each Operating Expense Divide the Operating Expense by the Total Sales Example: Salary & Wages 125500.00 / 426023.00 = .294585 or 29.46%Add all Operating Expenses to get Total Operating Expenses
8. 8. OPERATING EXPENSESSalary & wages 125,500.00 29.46%Employee benefits 31,375.00 7.36%Direct operating expenses 6,800.00 1.60%Marketing 15,000.00 3.52%Administrative & general expenses 7,412.00 1.74%Repairs & maintenance 2,850.00 0.67%Utilities 12,200.00 2.86%Total Operating Expenses 201,137.00 47.21%To Calculate the % of each Operating ExpenseDivide the Operating Expense by the Total SalesExample: Salary & Wages 125500.00 / 426023.00 = .294585 or 29.46%Add all Operating Expenses to get Total Operating Expenses
9. 9. Fixed ExpensesRent 32,500.00InterestDepreciation 10,500.00Total Fixed Expenses 54,000.00To Calculate Interest: Total Fixed Expenses - Rent - Depreciation 54000.00 - 32500.00 - 10500.00 = 11000.00To Calculate % : The Fixed Expense / Total SalesExample: 32500.00 / 426023.00 = .0762869 or 7.63%
10. 10. Fixed ExpensesRent 32,500.00 7.63%Interest 11,000.00 2.58%Depreciation 10,500.00 2.46%Total Fixed Expenses 54,000.00 12.68%To Calculate Interest: Total Fixed Expenses - Rent - Depreciation 54000.00 - 32500.00 - 10500.00 = 11000.00To Calculate % : The Fixed Expense / Total SalesExample: 32500.00 / 426023.00 = .0762869 or 7.63%
11. 11. Operating Income Before Taxes 26,059.31 6.12%Income Taxes (27%)To Calculate Income Tax: 27% of Income Before Taxes26059.31 x .27 = 7036.01To Calculate Income Tax %: Income Tax / Total Sales7036.01 / 426023.00 = .0165155 or 1.65%Net Income/Loss To Calculate Net Income or Loss:Total Sales - Total Cost of Goods Sold - Total Operating Expenses - Income T 426023.00 - 144826.69 - 201137.00 - 7036.01 = 19023.30 To Calculate Net Income or Loss % 19023.30 / 426023.00 = .0446532 or 4.47%
12. 12. Operating Income Before Taxes 26,059.31 6.12%Income Taxes (27%) 7,036.01 1.65%To Calculate Income Tax: 27% of Income Before Taxes26059.31 x .27 = 7036.01To Calculate Income Tax %: Income Tax / Total Sales7036.01 / 426023.00 = .0165155 or 1.65%Net Income/Loss 19,023.30 4.47% To Calculate Net Income or Loss:Total Sales - Total Cost of Goods Sold - Total Operating Expenses - Income T 426023.00 - 144826.69 - 201137.00 - 7036.01 = 19023.30 To Calculate Net Income or Loss % 19023.30 / 426023.00 = .0446532 or 4.47%