Mario’s Restaurant specializes in Italian food. During February, Mario’s recorded the following sales to customers and costs of doing business:
|
Sales to customers |
$19,500 |
|
Cost of food products used |
5,750 |
|
Cost of rented building and equipment |
4,376 |
|
Cost of employee labor services used |
3,750 |
|
Maintenance and utilities used |
2,000 |
Prepare a schedule that shows the amount of profit (or loss) earned by Mario’s Restaurant during February. (Hint: See Exhibit 6.)