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value income statement gene rsquo s diner has the following information for october 690876

Value Income Statement

Gene’s Diner has the following information for October, when several new employees were added to the wait staff:

Sales revenue

$180,000

Cost of food serveda

60,000

Employee wages and salariesb

45,000

Manager salariesc

18,000

Building costs (rent, utilities, etc.)d

27,000

a5 percent of this cost was for food that was not used by the expiration date and 10 percent  was for food that was incorrectly prepared because of errors in orders taken.

b15 percent of this cost was for time spent by cooks to re prepare orders that were incorrectly prepared because of errors in orders taken.

c20 percent of this cost was time taken to address customer complaints about incorrect orders.

d80 percent of the building was used.

Required

a. Using the traditional income statement format, prepare a value income statement.

b. What value would there be to Gene from preparing the same information in November?

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