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A) Prepare a Summary Operating Statement AND
B) an income statement that would be sent to stockholders
use this information:
room sales $1,053,890
food and beverage sales 524,570
rentals & other income 19,033
payroll & other expeneses: rooms 334,356
cost of food sales 178,310
payroll & other expenses: F&B 258,883
administrative and general 164,181
marketing 67,868
property operations and maintenance 61,554
utilities 47,312
management fees 20,000
rent 28,500
property taxes 45,324
insurance (property & liability) 6,914
interest 192, 153
depreciation 140,000
amortization 6,000
income taxes expenses 12,000
note: the company estimates its replacement reserve for the period to be $15,000
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