Fay Statistical Services operates a website that links experienced statisticians with businesses that need data analyzed. Statisticians post their rates, qualifications, and references on the website, and Fay receives 25% of the fee paid to the statisticians in exchange for identifying potential customers. Washburn Co. contacts Fay and arranges to pay a consultant $1,500 in exchange for analyzing some data. Fay's income statement would include the following with respect to this transaction:

a.) Revenue of $375

b.) Revenue of $1,875 and cost of services of $1,500

c.) Revenue of $1,500, and cost of services of $1,125

d.) Revenue of $1,500

Answer rating: 100% (QA)

The correct option is c Revenue of 1500 and cost of services of 1125 Explanation F... View the full answer