Chuck's Brokerage Services
Income Statement
For the month of October
Revenue - | ||
Brokerage Commissions | 9,000,000 | |
Fees from client for investment advice | 4,500,000 | |
Total Revenue | 13,500,000 | |
Expenses - | ||
Advertising & marketing | 270,000 | |
Building rent & utilities | 525,000 | |
Labor cost for advice | 2,400,000 | |
Managers salary | 900,000 | |
Sales commission to brokers | 750,000 | |
Training program for brokers | 1,275,000 | |
Fees paid to execute trades | 6,000,000 | |
Total expenses | 12,120,000 | |
Net income | 1,380,000 |
Part! Introduction and Overview (LO 2-2) 2-42. Pre The follo 2-38. Prepare Statements for a Service...