The document shows the statement of income for Stowe Room Café for the month ending October 31. Total sales were $426,023, with food sales accounting for 76.44% ($325,658) and beverage sales 23.56% ($100,365). Total cost of goods sold was 34% of sales ($144,826). Operating expenses accounted for 47.21% of sales ($201,137) and fixed expenses were 12.68% of sales ($54,000). This resulted in a net income of 4.47% of total sales ($19,023).

1. Connecticut School of Hospitality
Stowe Room Café
Statement of Income
For the Month Ending October 31, 20XX
Sales AMOUNT %
Food sales 325,658.00 76.44%
Beverage sales
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%

2. Stowe Room Café
Statement of Income
For the Month Ending October 31, 20XX
Sales 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%

3. Cost of Goods Sold
Cost of food sold 38.00%
Cost of beverage sold 21,076.65
Total Cost of Goods Sold
Cost of Food Sold is 38% of Food Sales
325658.00 x .38 = 123750.04
Cost 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

4. Cost of Goods Sold
Cost 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 Sales
325658.00 x .38 = 123750.04
Cost 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%

5. AMOUNT %
Sales
Food sales 325,658.00 76.44%
Beverage sales 100,365.00 23.56%
Total Sales 426,023.00 100.00%
Cost of Goods Sold
Cost 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 Sold
Gross Profit : 426023.00 - 144826.69 = 281196.31
Gross Profit % : Gross Profit / Total Sales
281196.31 / 426023 = .6600495 or 66%

6. OPERATING EXPENSES
Salary & wages 125,500.00
Employee benefits 31,375.00
Direct operating expenses 6,800.00
Marketing 15,000.00
Administrative & general expenses 7,412.00
Repairs & maintenance 2,850.00
Utilities 12,200.00
Total Operating Expenses
To 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

7. OPERATING EXPENSES
Salary & 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 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. Fixed Expenses
Rent 32,500.00
Interest
Depreciation 10,500.00
Total Fixed Expenses 54,000.00
To Calculate Interest: Total Fixed Expenses - Rent - Depreciation
54000.00 - 32500.00 - 10500.00 = 11000.00
To Calculate % : The Fixed Expense / Total Sales
Example: 32500.00 / 426023.00 = .0762869 or 7.63%

9. Fixed Expenses
Rent 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 = 11000.00
To Calculate % : The Fixed Expense / Total Sales
Example: 32500.00 / 426023.00 = .0762869 or 7.63%

10. Operating Income Before Taxes 26,059.31 6.12%
Income Taxes (27%)
To Calculate Income Tax: 27% of Income Before Taxes
26059.31 x .27 = 7036.01
To Calculate Income Tax %: Income Tax / Total Sales
7036.01 / 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%

11. 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 Taxes
26059.31 x .27 = 7036.01
To Calculate Income Tax %: Income Tax / Total Sales
7036.01 / 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%