Question

E1-6 Preparing an Income Statement and Inferring Missing Values (LO2, L03) Cineplex Entertainment operates movie theatres and food concession counters throughout Canada. Assume its income statement for the quarter ended September 30, 2017 reported the following listed alphabetically, amounts in thousands of dollars): Admissions Revenues Concessions Expenses Concessions Revenues Film Rental Expenses Selling and Administrative Expenses Net Income Other Expenses Other Revenues Rent Expense Total Expenses $461,850 31,100 194,900 251,800 67,950 ? 237, 400 32,600 96,300 2 Required: 1. Solve for the missing amounts and prepare an income statement for the quarter ended September 30, 2017 (Enter your answers in thousands.) CINEPLEX ENTERTAINMENT Income Statement For the Quarter Ended September 30, 2017 (in thousands) Revenues Total revenues Expenses Total expenses

Answer 1

1.)	Income Statement	Amount $
	Revenues
	Admissions revenues	461,850
	Concession revenues	194,900
	Other revenues	32,600
	Total Revenues	689,350
	Expenses
	Concession expenses	31,100
	Film rental expenses	251,800
	Selling & administrative expenses	67,950
	Other expenses	237,400
	Rent Expense	96,300
	Total Expenses	684,550
	Net Income	4,800

2.-a)	Cineplex's main source of revenue is Admissions revenue.
2-b.)	Cineplex's biggest expense is Film Rental Expense.