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Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck
Chuck's Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the following information for October Advertising and marketing Brokerage commissions (revenues) Building rent and utilities Fees from clients for investment advice Labor cost for advice Managers' salaries Sales comissions to brokers Training programs for brokers Fees paid to execute trades 95,00 2.990. 175,00 1,502,009 798, 299. 9 242,00 425,000 1,992,00 Required: Prepare an income statement for October for CBS. CHUCK'S BROKERAGE SERVICE Income Statement For the Month Ending October 31 Sales revenue Fees for investment advice $ 1,502,000
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