Case 3-2 Lone Pine Cafe (B)* ‘In addition to preparing the balance sheet described in Lone Pine Cafe (A), Mr. Simpson, the accountant, ‘agreed to prepare an income statement. He said that such a financial statement would show Mrs. Antoine how profitable operations had been, and thus help het to judge whether it was worthwhile to continue operat- ing the restaurant, ‘In addition tothe information given inthe (A) case, Mr. Simpson Jeamed that cash received from cus tomers through March 30 amounted fo $43,480 and that cash payments were as follows: + Copyright © Professor Robert N. Anthony. ‘Monthly payments to pariners™ $23,150 ‘Wages to part-time employees 5,480 Interest 540 Food and beverage suppliers 10,016 Telephone and electricity 3,270 Miscellaneous 255 Rent payments 7,500 one tiip eh rn Questions 1, Prepare an income statement for the period of the cafe's operations through March 30, 2010. 2. What does this income statement ell Mrs. Antoine?