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Harbor Island Investments (HII) is a discount brokerage firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Hll has
Harbor Island Investments (HII) is a discount brokerage firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Hll has collected the following information for November: Employee compensation Employee training programs Fees paid to execute trades Lease and facility costs Marketing Revenues (Advisory fees) Revenues (Brokerage commissions) Sales commissions to brokers Supervisors' salaries Required: Prepare an income statement for November for HII. HARBOR ISLAND INVESTMENTS Income Statement $ 891,000 478,500 2,211,000 203,500. 110,000 1,661,000 3,311,000 286,000 341,000 For the Month Ending November 30 Sales revenue Sales commissions to brokers Total revenues Cost of services sold Total costs of services Marketing and administrative costs
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