EX 22 Professional fees earned budget for a service company OBJ. 4 Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the month ending January 31, 20Y7: Audit Department: Staff....... Partners. Tax Department: Staff..... Partners.. Small Business Accounting Department: Staff.. Partners.. Billable Hours 22,400 7,900 13,200 5,500 3,000 600 The average billing rate for staff is $150 per hour, and the average billing rate for partners is $320 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the month ending January 31, 20Y7, using the following column headings and showing the estimated professional fees by type of service rendered: Billable Hours Hourly Rate Total Revenue