Discuss the below in detail:
Q: Given the following data, on a separate sheet of paper create monthly and yearly income statements for this fast-food restaurant in New York City:
a. Sales for the month of June were $300,000. Sales for the year were $2,600,000.
b. The sum of $66,000 was spent on food in June (it was $792,000 for the year). The restaurant spent $9,000 on paper to wrap food items in June and $ 108,000 for the year.
c. Taxes for June were $ 1 5 ,000. For the year, they were $233,000.
d. Fixed operating costs for June were $ 175,000. For the year, they were $ 1,000,000.
e. Use Excel or other software to create a graph showing the monthly and yearly income statements for this business.