Exercise Drop Product Line LO
Day Street Deli's owner is disturbed by the poor profit performance of his ice cream counter. He has prepared the following profit analysis for the year just ended.
Sales
Less: Cost of food
Gross profit
Less: Operating expenses:
Wages of counter personnel
Paper products eg napkins
Utilities allocated
Depreciation of counter equipment and furnishings
Depreciation of building allocated
Deli manager's salary allocated
Total
Loss on ice cream counter
$
$
$
Required:
Correct the owner's profit analysis for the year just ended.
